Jan-Sept growth driven by opening-up

China's continued economic growth and further opening-up are reinforcing foreign companies' confidence in the Chinese market, encouraging them to expand their manufacturing and research activities in the country, experts and business executives said.

The nation's GDP grew 4.6 percent year-on-year in the first three quarters, supported by stable growth in the manufacturing and services sectors, according to the latest data released by the National Bureau of Statistics.

Yu Peng, a researcher at the Chinese Academy of International Trade and Economic Cooperation in Beijing, said China's growing industrial capabilities and improved market access are encouraging foreign enterprises to expand investment in high-tech manufacturing and research and development across the country.

That view is in line with the latest foreign direct investment data. FDI in high-tech industries surged 33.8 percent year-on-year to 228.53 billion yuan ($34.28 billion) between January and September, accounting for 41.6 percent of the national total, said the Ministry of Commerce.

Investment in China from Canada, France, Switzerland and the United States rose 90.5 percent, 31.8 percent, 26 percent and 7.7 percent on a yearly basis, respectively, during the period.

Zhou Nianli, a professor at the University of International Business and Economics' Academy of China Open Economy Studies in Beijing, said China's opening-up policies, big-ticket trade events — such as the China International Import Expo — green transition and consumption upgrading are creating fresh opportunities for foreign businesses seeking long-term growth in the country.

As global supply chains evolve, multinational companies are reassessing their regional strategies to balance production capacity, market proximity and operational flexibility, said Zhou.

Speaking ahead of the upcoming ninth CIIE in Shanghai from Nov 5 to 10, Yin Zheng, executive vice-president of China and East Asia operations at Schneider Electric, said businesses face both challenges and opportunities as technology advances, and energy transition and industrial upgrading continue to reshape the global industrial landscape.

"China's solid industrial foundation, abundant innovation resources and diverse application scenarios provide significant opportunities for collaboration," said Yin.

He added that the French industrial group is working with local partners to integrate electrification, automation and digital technologies across industries, helping businesses improve efficiency and accelerate their green transition.

Schneider Electric, which is set to participate in the CIIE for the ninth consecutive year, has expanded its campus in Beijing and completed construction of a new industrial park in Wuxi, Jiangsu province this year. It is preparing to launch operations at its industrial park in Xiamen, Fujian province. This will become the group's largest production base globally for medium-voltage electrical equipment.

Americhem Inc, a US producer of specialty plastic compounds and additives, put a new clean compounding facility into operation in Suzhou, Jiangsu, in late September.

John Richard, CEO of Americhem, said the investment will enhance the company's capacity to serve customers in China and other Asia-Pacific markets, particularly those in the healthcare sector.

Meanwhile, Mike Crichton, president, international, at GSK Plc, said the British biopharma company is proud of its long-standing role in China's healthcare journey and remains committed to contributing to the Healthy China Initiative.

"With our Chinese partners, we are accelerating access to innovative medicines and vaccines for hepatitis B, shingles, HIV and tuberculosis. We are especially encouraged by the focus of China's 15th Five-Year Plan (2026-30) on disease prevention and healthy aging, including adult vaccination," Crichton said.

zhongnan@chinadaily.com.cn