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Execs praise China's progress in sci-tech innovation

China Daily Updated: 2022-10-20
From left: Wan Shiping general manager of Aveva China, Fang Ying president of Ericsson China, Chen Xudong chairman and general manager, IBM Greater China Group, Hou Yang corporate vice-president of Microsoft Corp, chairman and CEO of Microsoft Greater China Region, Frank Meng chairman of Qualcomm China

Editor's Note: The ongoing 20th National Congress of the Communist Party of China is widely expected to start a new chapter in the saga of reform and opening-up that energized the Chinese economy over the last four decades and made it the world's second-largest. It also sets the tone for improving the business environment for global firms, big and small, operating in the country. China Daily publishes a series of Q&As with business executives from leading MNCs featuring their outlook for the Chinese economy as well as their hopes for the future prospects of their businesses in China.

Q1 Against the backdrop of a much-troubled global economy, how will China's economy likely perform going forward, given that it has already made immense contributions to the tasks of stabilizing both the global supply chain and the world economy?

WAN: If we look at the COVID-19 control measures across the world, we note that China has taken decisive and effective control measures, which is a great contribution to the world in a difficult time when the supply chains in other countries are disrupted. It has not only helped sustain the global supply chain but has also maintained the stability of the Chinese economy. As a foreign business here, we are still optimistic about our growth momentum in China.

FANG: China has long been a key engine driving growth for the global economy. As the country continues to pursue more high-quality growth and development while maintaining its leadership in 5G, new energy and some other sectors, I remain optimistic about how the Chinese economy will develop in the future.

CHEN: Despite the uncertainties, we believe that China is on track for sustainable growth and will continue to play a pivotal role in the global supply chain and world economy.

With its enormous market size, sophisticated industrial chains, high-quality workforce and strong social governance ability, an economic rebound is expected in the second half of this year, as the country continues to roll out measures to shore up domestic demand and open up more market sectors, to name a few, the dual-circulation economic strategy, the 30-60 dual carbon goals and the nationwide drive toward wider adoption of clean-energy vehicles.

HOU: Over the past three years, China has taken its role as one of the world's two leading economies very seriously and has taken extraordinary measures to help overcome the pandemic, taken the lead in resuming production and productivity, and is leading the global economic recovery in part through its strong embrace of digital technology. This adoption and innovation have made significant contributions to stabilizing the global supply chain and alleviating global inflationary pressures.

The China market will continue to play a significant role in Microsoft's global business, and Microsoft will enthusiastically participate in and support China's economic growth, technological innovation and talent development.

MENG: Qualcomm has a long history in China that spans nearly three decades. Over the years, we have worked closely and successfully with entities across the ecosystem in China, including operators, OEMs, automakers, cloud companies and distributors. Through our business model, foundational technologies, and advanced platforms and solutions, we have helped to empower and expand the ecosystem and accelerate innovation globally.

In the coming years, digital technologies such as 5G, IoT, intelligent-connected vehicles, VR/AR and industrial internet will create new space for growth. Qualcomm and Chinese industries will have even bigger opportunities for cooperation ahead and we will keep creating value together.

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