Connect with us
Wise usd campaign
ADVERTISEMENT

China

Exploring Opportunities for Foreign Companies in China’s Emerging and High-Tech Industries

Published

on

China’s emerging industries offer significant opportunities for foreign investors through supportive policies and high growth potential. Key sectors include biopharmaceuticals, AI, and advanced technologies, driven by innovation-led initiatives to enhance global competitiveness and foster technological self-sufficiency.


China’s emerging industries present a plethora of new opportunities for foreign investors and companies. Highlighted as key to securing China’s future economic prosperity, these industries are bolstered by support and incentive policies, while harboring huge growth potential. We outline opportunities across five emerging industries in China.

China’s drive to develop new and emerging technologies is presenting a host of new opportunities for foreign investors and companies. This drive is anchored in its shift towards an innovation-led growth model, recently represented by concepts such as new quality productive forces (NQPFs), new-type industrialization, and “future industries”.

Central to China’s economic agenda since 2023, NQPFs prioritize the development of cutting-edge technologies, such as AI, robotics, biotechnology, and new energy and materials, to enhance global competitiveness and economic growth. Meanwhile, another core tenet of China’s growth strategy, the new-type industrialization initiative complements NQPFs by promoting advanced manufacturing, secure supply chains, and technological self-sufficiency, thereby positioning China as a leader in high-tech sectors. “Future industries“, meanwhile, focus on emerging technologies that are still in the early stages of development, such as quantum computing and 6G networks. Together, these strategies reflect China’s broader goal to drive economic growth through technological innovation and leadership in frontier industries.

Developing China’s biopharmaceutical industry is a strategic priority for the government. Recognized as a “strategic emerging industry” in the 14th Five-Year Plan (2021-2025), the biopharma sector is positioned for substantial growth, offering promising opportunities for foreign companies. According to the Qianzhan Industry Research Institute, the market size of China’s biopharmaceutical industry reached RMB 1.86 trillion (US$261.21 billion) in 2022, an 8.3 percent increase from the previous year. Between 2016 and 2020, the number of biotech science parks grew from 400 to 600, further reflecting government efforts to boost the sector.

Meanwhile, the 14th Five-Year Plan for Developing the Bio-Economy (2021-2025) outlines general development goals for the industry, such as increasing the contribution of the biopharmaceutical industry to GDP and enhancing the strategic position of biomedicine and related industries. The plan also emphasizes boosting R&D investment, increasing high-value patents, and strengthening innovation platforms.

Foreign companies are also encouraged to invest in the biopharmaceutical industry, with the sector listed in the 2022 Catalogue of Encouraged Industries for Foreign Investment (“2022 FI Encouraged Catalogue”) for multiple provinces, including Liaoning, Jilin, Heilongjiang, Henan, and Yunnan. This inclusion reflects the government’s desire to attract international expertise and capital to bolster domestic capabilities. Moreover, the government provides attractive incentive policies, such as a reduced 15 percent corporate income tax (CIT) rate for biopharmaceutical companies operating in certain development zones, including the Lingang New Area in Shanghai and the Nansha Economic Zone in Guangzhou.

China’s AI industry presents significant opportunities for foreign companies, fueled by strong government commitment, a rapidly growing market, and policies encouraging private and foreign investment. The Chinese government has prioritized AI as a key driver of innovation and is actively encouraging the integration of AI technologies across a variety of sectors, such as healthcare, education, finance, and urban management.


This article was first published by China Briefing , which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in ChinaHong KongVietnamSingapore, and India . Readers may write to info@dezshira.com for more support.

Read the rest of the original article.

Business

China Telecom Gulf Officially Launches Operations in Saudi Arabia for Business Expansion

Published

on

China Telecom Gulf was launched in Riyadh, enhancing digital cooperation between China and Saudi Arabia under the “Belt and Road Initiative,” with a focus on technological innovation and infrastructure development.


China Telecom Gulf Launches in Riyadh

On November 21, 2024, China Telecom Gulf was officially inaugurated in Riyadh, symbolizing a significant advancement in China Telecom’s internationalization efforts and commitment to the "Belt and Road Initiative." The event was attended by over 100 dignitaries, including Mr. Liu Guiqing, Executive Director of China Telecom Corporation, and Mr. Fawaz from the Industrial and Commercial Bank of China Riyadh Branch, marking a milestone in fostering a shared future between China and Arab nations.

Commitment to Digital Transformation

In his speech, Mr. Liu highlighted China Telecom’s dedication to collaborating with Saudi enterprises and local governments to enhance digital infrastructure. By leveraging its expertise in technologies like 5G and artificial intelligence, the company aims to provide high-quality communication services, thereby driving socio-economic growth in the region.

Strategic Partnerships for Growth

During the launch, China Telecom Gulf signed strategic agreements with several prominent companies, including Saudi Telecom Company and Huawei. These collaborations are geared towards optimizing digital experiences for Saudi customers and contributing to the broader Sino-Saudi cooperation in technology and economic development, solidifying China Telecom’s role in the Middle Eastern telecom landscape.

Source : China Telecom Gulf Officially Launches in Saudi Arabia for Business

Continue Reading

China

India Initiates a Shift in Security Focus Regarding China Amid Economic Ambitions

Published

on

Since 2014, India’s Modi government aimed to boost manufacturing through the Make-in-India campaign. However, tensions with China led to increased scrutiny of Chinese investments post-COVID-19, limiting their influence.


Modi’s Manufacturing Push

Since Narendra Modi took office in 2014, his administration has focused on boosting the manufacturing sector’s contribution to India’s GDP. The launch of the Make-in-India campaign aimed to enhance manufacturing capabilities and attract foreign direct investment (FDI), even in sensitive sectors such as defense and railways, thereby fostering economic growth.

Shift in Economic Relations

During this period, Chinese companies like Oppo and ZTE sought to capitalize on India’s manufacturing potential. However, the 2020 COVID-19 pandemic highlighted the need for safeguard measures against potential foreign takeovers. In response, India revised its FDI policy to increase scrutiny on investments from neighboring countries, particularly targeting Chinese investments, which now require governmental approval.

Geopolitical Tensions and FDI Impact

Tensions escalated after the June 2020 Galwan clash, severely straining Indo-China relations. This ongoing border standoff has posed challenges to the evolving dynamics between the two nations. As a result of these geopolitical tensions and pandemic-era policies, Chinese capital inflow to India constituted merely 0.43% of the total FDI from April 2000 to December 2021, highlighting a significant downturn in bilateral economic ties.

Source : India begins a rebalance of security concerns over China and economic aspirations

Source link

Continue Reading

Business

BRICS: China Classifies Crypto as Property and Prohibits Business Ownership

Published

on

XRP

China’s Shanghai court ruled cryptocurrencies are property, boosting optimism in the crypto industry while maintaining a ban on business transactions. This may signal a shift in future regulations.


China’s Ruling on Cryptocurrency

In a pivotal decision for the nation and its BRICS alliance, China has officially classified cryptocurrency as property while maintaining prohibitions against business transactions involving digital assets. A notable ruling from the Shanghai Songjiant People’s Court affirmed cryptocurrencies as property, sparking optimism within the crypto industry regarding future regulations.

Implications for the Crypto Industry

As cryptocurrencies gain significance globally, the Chinese ruling is viewed as a potential-positive shift amidst ongoing restrictions. While individuals can hold virtual currency, businesses remain barred from engaging in investment transactions or issuing tokens independently. This decision has generated anticipation for more accommodating regulations in the future.

Future Prospects for Cryptocurrency in China

Experts like Max Keiser believe this ruling indicates China’s growing acknowledgment of Bitcoin’s influence. As BRICS nations explore increased cryptocurrency utilization in trade, this legal shift could enhance market demand and lead to greater acceptance of cryptocurrencies as a legitimate asset class, setting the stage for potential developments in 2025.

Source : BRICS: China Rules Crypto as Property, Bars Business Holdings

Continue Reading