BENEFITING THE WORLD

In a world that is confronted with a rising spiral of unilateralism, protectionism, and de-globalization, as well as escalating tensions and uncertainties, China's adherence to openness is injecting certainty into the global economy.

Philip Myburgh, group head of trade and Africa-China at Standard Bank Group, the largest bank in Africa, said Africa is benefiting from Chinese technologies as it focuses on developing the manufacturing industry and also from China's lucrative consumer market by exporting goods, such as agricultural goods, to China.

"The Chinese business environment, I think, is very positive, and there are a lot of opportunities," he said.

According to the Ministry of Commerce, foreign direct investment in actual use expanded 4.9 percent year on year to 408.45 billion yuan (56.65 billion U.S. dollars) in the first quarter of this year, indicating the world's second-largest economy remained a popular destination for global investors.

Miwako Ando, executive officer of Mitsui O.S.K. Lines, Ltd., said as China's economy is recovering gradually, the Chinese market has a very big potential for all businesses.

The Tokyo-based sea shipping company has a lot of business relationships with Chinese companies, carrying goods from China and to China, she said.

"I hope that China will take the lead in world economic development and in climate issues," she said.

This photo taken on June 27, 2023 shows a view of the venue for the 14th Annual Meeting of the New Champions, also known as the Summer Davos, in north China's Tianjin Municipality. (Xinhua/Li Ran)

Zhang Yuzhuo, chairman of the State-owned Assets Supervision and Administration Commission of the State Council, said China's economic recovery has boosted confidence in the recovery of the world economy.

"We hope that through platforms like the World Economic Forum, exchanges and consensus can be reached among all parties to the greatest extent, and global trust can be further enhanced to promote global economic development," said Zhang.