Foreign
Multinationals continue to invest in China
By Luo Shanshan, Wang Pei, People’s Daily
As global supply chains undergo a new round of restructuring, China is emerging as an increasingly attractive destination for foreign investment. A recent report from the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce highlighted how the country’s comprehensive, multi-dimensional strategic advantages and expanding market potential are reinforcing its appeal to multinational corporations.
The convergence of diverse opportunities is enabling the Chinese market to deliver greater long-term value, fostering both sustained capital appreciation and enhanced global competitiveness. As of the end of 2024, foreign investors had invested and established more than 1.23 million enterprises, with a cumulative actual utilization of foreign capital of 20.6 trillion yuan ($2.87 trillion).
On June 25, Airbus marked four decades of partnership with China. Over the years, China has become Airbus’ biggest single-country market for commercial aircraft. Today, the partnership spans the entire aircraft lifecycle – from design and manufacturing to operational support and recycling after retirement. According to Airbus’ 2025 global market forecast, China will become the world’s largest air transport market in the next 20 years, requiring 9,570 new aircraft, accounting for nearly one-fourth of total demand globally.
On June 18, German electric giant Phoenix Contact, another multinational with a long-standing presence in China, broke ground on a mega-factory in Nanjing, east China’s Jiangsu province, with a total investment of 1 billion yuan. Once completed, the facility will triple its production capacity within five years.
A company representative noted that China’s market scale and sophistication provides significant growth potential, while the rapid advancement of sectors like new energy and intelligent manufacturing aligns closely with the company’s business focus.
Han Jian, a professor at Nanjing University’s business school, observed that on the demand side, China’s large and multi-tiered market presents abundant commercial opportunities for foreign businesses. On the supply side, the country boasts a complete industrial system and strong manufacturing capabilities, having built the world’s largest high-speed railway and expressway networks, as well as world-class port clusters and highly efficient logistics systems. This helps multinationals lower costs and enhance operational efficiency, Han noted.
A stable policy framework and an increasingly open environment further strengthen China’s investment profile.
This confidence is reflected in multinationals’ consistent investment patterns, exemplified by German consumer goods leader Henkel: the company allocated over 500 million yuan in setting up an innovation center in Shanghai in 2021, launched a new adhesive manufacturing facility in the Yantai Huang-Bohai New Area in east China’s Shandong province in 2023, and inaugurated its Cosmetics Brands China Factory in Taicang, Jiangsu province, in March this year.
“The current wave of investment is driven by market dynamics, strong government support, and continuous improvements in the business environment,” said Yu Jiang, head of government relations and public affairs at Henkel (China).
“The Chinese government has been actively advancing opening-up. The negative list for foreign investment is getting shorter every year, and in 2024, restrictions in the manufacturing sector were completely lifted. A range of new policies have also been introduced to attract foreign investment,” said Yu.
Experts affirm that China’s long-standing political and social stability, combined with consistent policy implementation, cultivates a reliable and predictable operating climate for foreign businesses. Notably, China’s well-structured approach to both voluntary and unilateral opening-up has created a forward-looking and flexible space for multinational development.
Many foreign companies have highlighted China’s dynamic application scenarios and innovation momentum as key reasons for choosing the country as a launchpad for new business models and launching cutting-edge technologies. Today, China boasts the world’s largest innovation ecosystem for scenario-based applications.
After 38 years of development in the Chinese market, Schneider Electric, a global leader in energy management and industrial automation, has made China its second-largest market globally and one of its most critical supply chain bases.
According to Yin Zheng, executive vice president of China and East Asia Operations at Schneider Electric, the company has established five research and development (R&D) facilities in cities such as Beijing and Shanghai. Since 2019, its R&D spending in China has grown at a compound annual rate of more than 18 percent.
Japanese electronics maker Seiko Epson Corp has followed a similar strategy, combining technological expertise with localization. “Through open collaboration, we’ve developed a wide range of popular, China-specific solutions,” said the president of Epson (China) Co., Ltd.. “In response to the emerging challenges of the AI era, we are actively integrating into China’s development trajectory and innovation ecosystem.”
According to the report released by the Chinese Academy of International Trade and Economic Cooperation, foreign-invested enterprises have been rapidly expanding their R&D presence in China in recent years. As of May 2025, Shanghai was home to 603 foreign-funded R&D centers. In 2024 alone, Beijing approved more than 110 new foreign-funded R&D centers, bringing the city’s total to 221 – more than doubling within just a short span of time.
Foreign
A living testimony about MKA: The Aondoakaa that I know Written By Brahms Tor-Ikuan
My people of Benue State,
I am not speaking to you today as a politician. I am speaking as a brother whose family was held up by Chief Mike Kaase Aondoakaa, MKA, when we had no one else to hold onto.
My elder brother, Verem Ukaa-Ikuan, was not just my blood. He was a very dear and close friend to Chief MKA. When my brother fell ill and was diagnosed with liver damage caused by poisoning, MKA didn’t treat it as someone else’s problem. He took it on as his own.
He worked closely with Verem during his time as Attorney General of the Federation, and when the sickness came, he moved immediately. Searches were conducted, and Apollo Hospital in India was earmarked for a liver transplant. Every travel arrangement was made personally by Chief MKA.
But we hit a wall. Verem was too weak to fly a long commercial flight. Only an air ambulance could get him to India alive. At that time, there was only one functional air ambulance in the entire country, owned by Julius Berger. It was completely out of reach for even the most high-profile citizens.
Chief MKA went all out. He did not give excuses. He did not delay. He used every connection and every ounce of influence he had to secure that air ambulance for my brother.
On the day it was secured, Barr. Terna Yaji, his Senior Special Assistant, called me a few minutes after 6pm. He told us to prepare Verem for departure and take him to Makurdi airport very early the following morning. I informed him, my brother passed on at exactly 6 o’clock a few minutes ago. I told Barr. Terna Yaji, and I saw a devastated MKA.
During the burial, Chief MKA was out of the country on national assignment. He was pained that he could not be there physically. His entire team, led by the late Onov Tyuulugh, represented him fully. And his message to us at the burial has never left me:
“If death were law, as the Attorney General, a law would have been made no matter what to ensure Verem will just not die but live forever.”
That is who Mike Kaase Aondoakaa is when nobody is watching. He does not abandon his people. He does not forget. He stood with our family then, and he has stood with us till date.
Now he is asking for the chance to govern Benue State.
Benue needs a governor with a heart like that. A governor who fights for you even when there’s no political gain. A governor who sees you as family, not as a vote.
I am standing with Chief Mike Kaase Aondoakaa for Governor of Benue State.
For compassion that moves to action.
For loyalty that does not fade.
For leadership that proves itself in the darkest hour.
Join me. Let us give Benue a leader who has already shown what he will do for us.
God bless Chief Mike Kaase Aondoakaa.
God bless Benue State.
Brahms Tor-Ikuan, a beneficiary of MKA’s benevolence writes from Makurdi
Foreign
China-U.S. relations cannot return to past, but can move toward better future
By Guo Jiping
At the invitation of Chinese President Xi Jinping, U.S. President Donald Trump will pay a state visit to China from May 13 to 15.
After many twists and turns, China-U.S. relations have arrived at a new historical juncture. The year 2026 carries special significance for both countries. China is embarking on its 15th Five-Year Plan period (2026-2030), while the United States celebrates its 250th anniversary.
Amidst increasing global uncertainty and volatility, the international community looks to Beijing, hopeful that this high-level engagement will offer clarity and stability for the future trajectory of China-U.S. relations.
Observers note that over the past decade, the relationship has weathered two significant periods of strain. The first began in 2018 with the U.S. initiation of trade tariffs against China. Stabilization was achieved only after extensive dialogue and complex interactions spanning several years. The second period of tension occurred more recently in 2025. Remarkably, the cycle from rising friction to renewed stability unfolded within just a few months this time.
The progression from years-long to months-long stabilization cycles, and from repetitive friction-dialogue patterns towards clearer strategic direction and consensus-building, reflects China’s consistent approach: readiness to negotiate combined with firm adherence to principles and clear boundaries. China’s demonstrated resilience has garnered international respect and created conditions conducive to resolving differences through dialogue.
Today, China-U.S. dialogue occurs on a more equitable basis. Communication is increasingly pragmatic, with clearer articulation of respective bottom lines. This resilience suggests the potential for a new, more stable chapter in the relationship.
Head-of-state diplomacy plays an irreplaceable strategic guiding role. Last year, when a wave of tariff tensions rattled the world, the two presidents steered China-U.S. economic and trade ties back on course.
Under the guidance of the consensus reached by the two presidents, the teams from both sides have so far held six rounds of consultations and are currently engaged in a new round of talks.
Since the meeting between the two heads of state in Busan last October, China-U.S. relations have generally maintained a stable and improving momentum — a trend widely welcomed by both peoples and the international community.
The strategic guidance provided by the two heads of state helps identify “dangerous reefs” ahead in China-U.S. relations. The Taiwan question is the most important and most sensitive issue at the very core of China-U.S. relations, and it concerns the political foundation of bilateral ties.
Xi has repeatedly elaborated China’s principled position on the Taiwan question to Trump, emphasizing that Taiwan is China’s territory, and China must safeguard its own sovereignty and territorial integrity, and will never allow Taiwan to be separated. Clearly defining principles and bottom lines is precisely the responsible approach needed to prevent serious risks in China-U.S. relations.
The aspiration of the Chinese and American business communities to deepen ties and cooperation has never changed. At present, more than 7,000 Chinese-funded enterprises operate in the United States, while about 80,000 American-invested enterprises are active in China.
These firm choices made at the forefront of the market clearly and powerfully demonstrate the true nature of China-U.S. economic and trade relations: mutual benefit and win-win cooperation.
As China enters the 15th Five-Year Plan period, its commitment to high-quality development and high-standard opening up will create broader incremental space for China-U.S. cooperation.
The will of the people stands as a profound and enduring force shaping the trajectory of China-U.S. relations. Whether at those pivotal moments when China and the United States seized every moment to break the ice, or when bilateral relations slid to a low ebb, the sincere aspiration of the two peoples for mutual understanding and friendship has never changed.
As exchanges deepen and produce tangible results, perceptions are improving positively. More Americans are actively participating in fostering people-to-people friendship, contributing greater rationality and constructive perspectives to the relationship.
In the face of profound changes unseen in a century, China and the United States, as permanent members of the United Nations Security Council and the world’s two largest economies, shoulder even greater responsibilities. Promoting global development, safeguarding peace and security, and improving global governance all require cooperation between the two countries.
This year, China will host the APEC Economic Leaders’ Meeting and the U.S. will host the G20 Summit. Whether the two sides can demonstrate the vision and responsibility expected of major countries, and deliver more tangible benefits to the world, bears directly on the well-being of both peoples and the future of humanity.
China-U.S. relations cannot return to the past, but they can move toward a better future. Both sides should proceed from a sense of responsibility to history, to the people, and to the world, and explore ways to build a strategic, constructive, and stable China-U.S. relationship featuring mutual respect, peaceful coexistence, and win-win cooperation.
Foreign
China’s robust Q1 performance lifts global confidence
By He Yin, People’s Daily
China recently unveiled its economic performance for the first quarter of 2026. Its GDP reached 33.4193 trillion yuan ($4.9 trillion), up 5 percent year on year in real terms, accelerating by 0.5 percentage points from the fourth quarter of last year.
The figures have drawn close attention from the international community, which generally believes that amid rising global uncertainty, China’s economy has demonstrated resilience and vitality, injecting much-needed stability and positive momentum into the world.
At present, global instability is intensifying. The spillover effects of geopolitical conflicts are expanding, and international organizations such as the UN and the Asian Development Bank have warned of growing downside risks. The global economy is moving forward under pressure.
In the face of mounting external uncertainties, China’s economy continues to display strong resilience, robust internal momentum, and proactive, effective macroeconomic policies. Phrases such as “better than expected” and “growth against the headwinds” have frequently appeared in international media coverage.
Kristalina Georgieva, Managing Director of the International Monetary Fund, noted that China’s economy has shown resilience, possesses immense potential, and will have a positive impact on the world.
Driven by innovation, high-quality development surges forward. In the first quarter, China’s equipment manufacturing sector contributed nearly 50 percent to the growth of value added in industrial enterprises above designated size. In the first two months of the year, high-tech manufacturing accounted for more than half of the increase in total industrial profits, underscoring the growing role of new growth drivers.
China’s industries are advancing rapidly toward high-end, intelligent, green and upgraded development, delivering continuous breakthroughs in fostering new quality productive forces.
Exports of green products such as electric vehicles, lithium-ion batteries, and wind turbines and their components rose by 77.5 percent, 50.4 percent, and 45.2 percent, respectively. Meanwhile, investment in frontier fields including AI and humanoid robotics increased by 45.5 percent year on year, and the business vitality index of technology-driven enterprises rose by 8.1 percent.
Global media outlets have observed promising signs: China’s thriving clean energy technologies are creating huge economic value, and robust demand for AI devices is driving steady growth of China’s foreign trade. These positive trends vividly demonstrate China’s progress in developing new quality productive forces.
Domestic demand has also shown overall improvement, creating favorable conditions for sustained economic expansion.
Promoting a development model driven more by domestic demand, consumption, and endogenous growth reflects China’s strategic response to changes in its development stage and the evolving international environment.
In the first quarter, retail sales of consumer goods grew by 2.4 percent year on year, while fixed-asset investment returned to positive growth, indicating that the domestic market continues to deepen and expand.
At the sixth China International Consumer Products Expo held in Hainan province, a wide range of global debuts, Asia-Pacific premieres, and China launches were showcased, further strengthening China’s reputation as a premier global destination for quality consumption.
The country’s vast market continues to empower economic development. Some U.S. media outlets observed that China is transitioning toward a more diversified growth model, one that benefits not only China itself but also offers valuable lessons for the global economy.
Amid profound adjustments in the global economic landscape, China remains committed to high-level opening up, creating broad opportunities for the world through its own development.
A series of opening-up measures have been rolled out, including the launch of island-wide independent customs operations at the Hainan Free Trade Port, revisions to the Foreign Trade Law to better align with international rules, and an expanded version of the Catalogue of Encouraged Industries for Foreign Investment. These steps are improving both the quality and scale of trade cooperation.
In the first quarter, China’s total goods trade exceeded 11 trillion yuan for the first time in the same period, maintaining double-digit growth and reaching the highest quarterly growth rate in five years.
Its trade with Belt and Road partner countries accounted for 51.2 percent of the total, while trade with Africa grew by 23.7 percent. Trade with ASEAN, Latin America, the European Union, the United Kingdom, and other APEC economies also recorded double-digit growth. China’s role as a “world market” continues to generate positive spillover effects globally. A more open China will remain a steady anchor for the world economy as it navigates challenges.
The year 2026 marks the opening of China’s 15th Five-Year Plan period (2026-2030). Stable economic growth provides a solid foundation for a strong start to this new phase, while also serving as a stabilizer for the global economy amid turbulent conditions. China will continue to inject sustained confidence and strong momentum into global development.
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