China's transformation in its business and innovation environment has proved remarkable, offering great growth potential for multinational corporations in the country, said a Takeda Pharmaceutical Co Ltd top executive.

"China's healthcare reform and development over the past few years have been profound. The country now represents a significant growth driver for Takeda. It is becoming a more important part of our global business and strategy, not only in commercial but in clinical research and development," said Christophe Weber, president and CEO of Takeda, during the China Development Forum in Beijing.

Standard Chartered will focus on the further opening-up of China's financial sector while the country, which is at the heart of its operation, will steadily expand institutionalized opening-up with regard to rules, regulations, management and standards, said Bill Winters, group chief executive of Standard Chartered PLC.

"As China's opening-up becomes increasingly more important and prevalent, we think it's a critical area for us to continue focusing on and it has worked well, especially being in the stage of institutionalized opening-up," said Winters during his first visit to China since 2020 to attend the three-day China Development Forum, which wrapped up on Monday.

BEIJING -- Economic experts and business leaders showed optimism about China's economic growth outlook in 2023 at the just-concluded China Development Forum 2023, saying that China is a major driver of the global economy and a reliable supplier for industrial and supply chains.

In its government work report, China unveiled an around 5-percent expansion target for the Chinese economy this year. Kevin Kang, chief economist of KPMG China, said the goal is obviously higher than the estimated growth of most major economies.

Oil giant plans production expansion to fuel China's efforts toward carbon goals

Saudi Aramco will support China's domestic energy security by expanding its oil and gas production capacity while reducing its oil production carbon intensity to facilitate the country's green transition, said a top company official.

As a global tech company and one of the top three auto parts suppliers in the world, ZF is committed to the Chinese market with continued investment. It aims to be at the forefront of cutting-edge technologies in the world's largest and most dynamic vehicle market, top executives said at the China Development Forum held in Beijing from Mar 25 to 27.

Amid various challenges faced by the automotive industry in recent years such as COVID-19, chip shortages and rising energy and raw material prices, ZF Group remains committed to investing in China and strengthening its efforts to develop the local supply chain, said Holger Klein, chairman and CEO of ZF Group.

Chinese firms urged to adopt broader perspective for better use of resources

China will encourage domestic enterprises to integrate more deeply into global industrial and supply chains, and strengthen the coordination and allocation of resources in key industries such as semiconductors, the country's top industry regulator said on Monday.

BEIJING - Economic experts and business leaders showed optimism about China's economic growth outlook in 2023 at the just-concluded China Development Forum (CDF) 2023, saying that China is a major driver of the global economy and a reliable supplier for industrial and supply chains.

In its government work report, China unveiled an around 5-percent expansion target for the Chinese economy this year. Kevin Kang, chief economist of KPMG China, said the goal is obviously higher than the estimated growth of most major economies.

Cooperation, instead of decoupling, creates prosperity, said Oliver Zipse, chairman of the board of management of BMW AG, on Sunday at the China Development Forum.

"Just as BMW's investment creates jobs in China, (Chinese battery maker) CATL's investment brings prosperity to Europe," he said.

Saudi Aramco has confirmed its investment in a major petrochemical project in Liaoning province, as announced by Amin Nasser, the President and CEO of the company.

During the China Development Forum on March 26, Nasser stated, "Today we are signing definitive agreements with North Huajin Chemical and Panjin Xincheng to begin construction on a state-of-the-art integrated refinery and petrochemical complex in Liaoning province."

China has not changed its position on developing a sound, stable and constructive relationship with the United States, but the current ties are still chilly, State Councilor and Foreign Minister Qin Gang said.

He made the remark in Beijing when meeting on Saturday with a visiting US delegation representing friendly organizations and the US business community.

Message to development forum says nation to create opportunities for world

China will steadily expand institutional opening-up with regard to rules, regulations, management and standards, and will work with all countries and parties to share opportunities arising from it, President Xi Jinping said on Sunday.

BEIJING -- The huge potential and sound development of the Chinese economy will provide broad cooperation space and development opportunities for domestic and foreign investors, a senior Chinese official said Sunday.

"Investing in China is investing in the future," Zheng Shanjie, head of the National Development and Reform Commission, said during the ongoing China Development Forum 2023.

During the past decade, China's economic aggregate has reached a new level and its economic structure has been optimized, Zheng said, highlighting that since the beginning of this year, the Chinese economy has continued to rebound with stronger growth drivers.

Senior executives from tech giants in the United States spoke highly of the Chinese market and supply chain after their long-delayed return to the China Development Forum this weekend, a sign that industry experts believe reflects their recognition of one of their biggest markets worldwide.

Tim Cook, CEO of US tech giant Apple Inc, started his speech to the forum on Saturday by saying that "it was so wonderful to be back". It was his first trip to China since the COVID-19 pandemic.

BEIJING -- Chinese Vice-Premier Ding Xuexiang has stressed further advancing opening-up and sharing market opportunities with the world.

Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks on Sunday at the opening ceremony of the China Development Forum 2023.

With China firmly committed to opening-up and continuing to expand market access while improving the business climate and services for foreign investors, more and more foreign firms will feel that investing in China is investing in the future, according to government officials and business executives.

Commerce Minister Wang Wentao on Sunday reiterated that China is devoted to building a market-oriented, law-based and internationalized business environment, and will keep expanding market access for foreign investors while promoting institutional opening-up.

China's economy is experiencing a strong rebound that will deliver a welcome lift to the world economy, contributing about one-third of global growth in 2023, said Kristalina Georgieva, managing director of the International Monetary Fund.

It is advisable for China to make more policy efforts to raise productivity and rebalance the economy away from investment and toward consumption-driven growth, which will be more durable and helpful to climate goals, Georgieva said at the China Development Forum 2023 in Beijing on Sunday.

China's economy is stabilizing and gaining momentum amid a steady recovery this year, and the country has the confidence and capabilities to foster high-quality development, according to the country's top economic regulator.

Zheng Shanjie, head of the National Development and Reform Commission, said the country will strengthen the coordination between fiscal and monetary policies as well as policies in terms of employment, industry, investment, consumption, prices, environmental protection and regional development, which will support the country's high-quality development.

Being afraid of China's rise is a mistake in the United States, and the best way to overcome it would be a much more intensified dialogue between the two countries, said Jeffrey Sachs, a renowned economist and professor at Columbia University.

"There's a lot of tension between the US and China. I believe a lot of that tension arises from the US side," Sachs said in an exclusive interview with China Daily on the sidelines of the ongoing China Development Forum in Beijing on Sunday.