Multinationals optimistic about Chinese market
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Multinationals' executives express their views on China's investment environment at a TV debate at the Summer Davos 2010 in Tianjin on September 13, 2010. [Yan Pei / China.org.cn] |
Executives of four multinational corporations expressed optimism in China's business environment, saying their companies will continue stepping up investment in the country at a televised discussion session Monday during the Annual Meeting of the New Champions.
Their views are in direct contrast to several recent reports that China has become less friendly toward multinationals. Ferdinando Beccalli-Falco, president and CEO of GE International and one of the discussion panelists, said many of the policies the reports cited as contributing to the growing frustration among foreign businesses were "growing pains" from China's rapid development and economic growth.
"I think the attitude that multinational companies have to take is to work with China and to help them in solving some of these problems," Beccalli-Falco said. "Antagonism is not going to get us anywhere."
Another panelist, Glenn Jordan, president of Coca-Cola's Pacific Group, said his company will navigate through the changing investment environment by staying close to China's market evolution and understanding Chinese policies.
Despite complaints that Chinese regulations gave unfair competitive advantages to Chinese companies, the panelists were optimistic about their growth opportunities in the Chinese market. Takeshi Niinami, president and CEO of Japanese chain store Lawson, said foreign businesses may be more welcome in smaller cities such as Chongqing, Tianjin and Dalian.
"Local government in these smaller cities will provide more beneficial policies, including quicker government approval and tax reduction" than in major cities such as Beijing, Shanghai and Guangzhou, Niinami said.
