Foreign executives' intensive visits to China serve as "votes of confidence" in the Chinese market

From March 20 to 21, officials from the Ministry of Commerce met with Apple CEO Tim Cook and other foreign giants in Beijing. These foreign executives expressed long-term confidence in China’s economy using keywords such as “potential,” “stability,” “opportunity,” “trustworthy,” and “reliable,” and pledged to further increase investment in China.

“Foreign investment increasing in China is fundamentally a rational choice based on global resource allocation logic,” said Lu Yue, professor at the University of International Business and Economics’ Institute of International Trade and Economics and vice dean of the School of International Economics and Trade, in an interview with Securities Daily. He explained: First, China remains one of the most efficient global bases for production and innovation, with a complete industrial chain and technological innovation capacity, enabling companies to achieve an optimal balance among cost, efficiency, and innovation, making simple relocation difficult to replace; second, localization strategies are shifting investment from “manufacturing-oriented” to “market and R&D-focused,” with multinational companies establishing R&D centers, regional headquarters, and supply chain hubs in China to better meet local needs, participate in technological iteration, and strengthen long-term competitiveness; third, rising global uncertainties increase reliance on stable markets. Against the backdrop of geopolitical and trade fluctuations, the scale certainty and policy continuity of the Chinese market have become key points for multinational companies to diversify risks and stabilize returns.

Ming Ming, chief economist at CITIC Securities, told Securities Daily that China has the world’s largest market and the most complete industrial chain. In the context of rising anti-globalization trends, the costs of building supply chains across borders are increasing, but China’s stable economic outlook and unique industrial chain advantages make its supply chains “irreplaceable.” More foreign executives are optimistic about China’s long-term economic development and the investment opportunities that come with it.

Many foreign executives mentioned that “China’s 14th Five-Year Plan presents opportunities for multinational companies.” Ming Ming responded that both the “14th Five-Year Plan” and the 2026 Government Work Report emphasize “expanding high-level opening-up,” which includes both Chinese companies going global and foreign investment coming in. Therefore, for foreign-invested companies, whether participating in Chinese companies’ “going global” initiatives or seizing key windows of China’s opening-up, these are rare opportunities.

Foreign-invested enterprises in China have keenly captured policy signals. For example, Eli Lilly Chairman and CEO David Ricks recently stated that Lilly is optimistic about its prospects in China, planning to add $3 billion in investment over the next decade to help build a healthy China. Novo Nordisk’s Executive Vice President Lin Yiming said that the company is optimistic about China’s huge market potential, highly appreciating the Chinese government’s ongoing efforts to optimize the business environment and strengthen intellectual property protection, and is willing to further increase investment, expand local production and R&D, and support the booming development of China’s pharmaceutical and health industry.

According to Lu Yue, the new round of planning and policy orientation will shift the focus of opening-up from factor-driven to innovation-driven and institutional opening-up, providing foreign investment with higher-level participation space. First, high-end manufacturing and emerging industries will accelerate opening-up. Focusing on digital economy, green transformation, and advanced manufacturing, foreign investment can embed into core nodes of the industrial chain in areas such as semiconductor equipment, intelligent manufacturing, and low-carbon technologies to share the dividends of industrial upgrading. Second, service industry and institutional opening-up will deepen. Access to finance, healthcare, education, and professional services will continue to be relaxed, with rules, standards, and regulatory alignment with international high standards, reducing institutional transaction costs. Lastly, regional coordination and domestic demand expansion will create structural opportunities. The advancement of western regions and city clusters, combined with consumption upgrading trends, will provide new market growth and expansion opportunities for foreign companies, enabling a shift from coastal clustering to nationwide network development.