Door opened wider for foreign-invested businesses
China DailyWhen discussing the pace of innovation in China, Matthew Ye, the local head of French tire and mobility company Michelin, offers a perspective that differs from many senior executives in other parts of the world. "As a result, I must spend more time to push our local, European and Japanese engineers in China to accelerate their innovation efforts," Ye said, adding that the company will continue to expand passenger car tire production capacity at its factories in Shanghai and Shenyang, Liaoning province, to meet the country's surging demand. The updated national negative list, in conjunction with other policies aimed at attracting overseas capital, not only demonstrates China's determination to deepen reforms, but also creates a better investment and business environment for foreign companies. Noting that China is one of Trane Technologies' key growth markets globally, Wu Chuangang, the group's vice-president of operations and integrated supply chain for the Asia-Pacific region, said that the company has maintained double-digit growth in China over the past three years, demonstrating strong business performance. China's consumption trends present a significant growth opportunity, and ASICS is actively responding to them through a combination of market expansion and localization, said Tsuyoshi, who is also the company's senior managing director for China.