Foreign enterprises eye bright prospects in Chinese market

Release time：2024-05-21 13:31:23 Source：Cultural Crossings news portal

Executives of multinational corporations and representatives of foreign business associations in China voiced optimism about the prospects of the Chinese market at the first "Invest in China" event on March 26.

They expressed their intention to keep investing in China, maintaining an optimistic view of the market. Given its status as the world's second-largest economy, China demonstrates long-term economic stability, expanding market opportunities, and a growing appeal to investors.

"Generally speaking, multinational corporations are fully confident in the 'Invest in China' initiative. In January and February this year, the number of new foreign-invested enterprises in China increased by 34.9 percent, evidence of this confidence," said He Yadong, spokesperson for the Ministry of Commerce, at a regular briefing.

He added that China continues to connect with the world through a higher level of opening up. "Choosing China means choosing opportunities, and investing in China means investing in the future. The Ministry of Commerce will always welcome enterprises from all over the world to invest in China and share in the benefits of China's high-quality development."

Chayce Clark, executive vice president and general counsel of Nu Skin Group, said: "By participating in this event, we hope to convey to more government leaders, partners, and consumers our determination and conviction to invest unwaveringly in China and contribute to China's development. We look forward to boarding the train of China's development, sharing in the dividends of the Chinese market, and achieving mutual benefit and win-win results."

According to Clark, Nu Skin has witnessed the continual optimization of China's business environment and increasing opportunities for investment over the past 20 years. In recent years, the Chinese government has issued a series of policies and measures to provide a fairer, more transparent, and convenient investment environment for foreign-funded enterprises. This year's government work report sent a positive signal that China will continue to expand its high-level opening up and promote mutually beneficial cooperation, boosting confidence and momentum among foreign enterprises to deepen their engagement in China.

As living standards improve, consumers are increasingly prioritizing a healthy lifestyle, presenting significant opportunities for the beauty and wellness industry.

"In particular, the national 14th Five-Year Plan and the Big Health strategy provide direction for enterprises like ours, offering broad development prospects. Platforms such as the Belt and Road Initiative and the China International Import Expo inject strong momentum for continued investment in China," Clark noted.

He added that the purchasing power of Chinese consumers has been growing, with an increasing demand for high-quality, value-added beauty and wellness products. Meanwhile, the sustained growth of the Chinese economy provides ample room for expansion in the beauty and wellness consumer market. In this increasingly competitive industry, innovation and progress are continuously being unleashed.

According to this year's government work report, new quality productive forces are attracting attention across all sectors, opening up new investment opportunities.

"Since entering the Chinese market, Nu Skin has actively responded to the government's calls, continuously promoting innovation and upgrades, keeping pace with the times, adapting to market changes, and achieving sustainable development," said Clark. He also shared the company's plan to weave Internet of Things technology into a unified digital ecosystem for business model innovation, creating efficient connections between customers, contributors, and service providers. On top of that, Nu Skin will consistently roll out new products to cater to the varied demands of consumers.

The event was co-sponsored by the Ministry of Commerce and the Beijing Municipal Government. Over 140 executives from multinational corporations and representatives of foreign business associations in China from 17 countries and regions participated in the event.

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