Special Feature | 'China Provides Trustworthy Growth Path' - European and American Enterprises' Look East 'Reflects China's Economic Confidence and Energy

Beijing, April 30 (Xinhua) -- "China Provides Trustworthy Growth Path" - European and American Enterprises Look East Reflects China's Economic Confidence and Energy

Xinhua News Agency reporter Yan Jie

Recently, Jack Perry, the chairman of the 48 Group in the UK, noticed a subtle change in British businesses: "They are no longer asking 'should we focus on China', but 'how can we establish sustainable partnerships in China'

The 'small differences' in the content of the questions reflect the' big differences' in long-term planning and strategic choices of European and American companies. Faced with the uncertainty brought by trade protectionism, European and American companies are accelerating their "look east" pace, turning their attention to China, which has a large market size, stable economic growth, and a continuously open investment environment. Going to China has become a consensus among more and more multinational corporations.

Uncertainty and operational pressure are increasing, and European and American companies are facing practical difficulties

This' big difference 'stems from the practical difficulties that trade protectionism brings to global economic recovery and long-term growth prospects for businesses.

The International Monetary Fund released its latest World Economic Outlook report on April 22, lowering its global economic growth forecast for 2025 from 3.3% in January this year to 2.8%. The report believes that the series of tariff measures taken by the US government is a "significant negative impact" on the global economy, and the uncertainty in their implementation also has a negative impact on economic activity and prospects.

Mike Henry, CEO of Australian mining giant BHP Billiton, recently stated that the escalating trade war will harm the global economy. Although the direct impact of US tariff policies on BHP is limited, the effects of slowing economic growth and fragmented trade environment may be more profound.

William Bain, the head of trade policy at the British Chamber of Commerce, recently stated in an interview with Xinhua News Agency that US tariff policies are driving up costs for British businesses, suppressing export growth, and causing substantial damage. A recent survey conducted by the British Chamber of Commerce on over 600 companies showed that 62% of the surveyed companies indicated that their trade business with the United States has been significantly affected. Many companies have reported facing challenges such as supply chain disruptions and rising operating costs, and are unable to clearly assess their future development plans

The German economic community generally believes that the US tariff policy will result in higher costs for German export products, further exacerbating the uncertainty and operational pressure faced by businesses. On April 24th, the German federal government released its spring economic forecast report, predicting zero growth in the German economy by 2025, lower than the 0.3% growth forecast in January. This means that the German economy will fail to achieve growth for the third consecutive year.

According to research by the German Institute for Economic Research, the EU's exports to the United States may be halved, leading to a large-scale decline in production, especially in industries such as pharmaceuticals, automobiles, and electronics.

For global trade, (US tariff policies) have raised a key question: if rules can be rewritten overnight, how can businesses make five-year or ten-year business decisions? "Perry said," Uncertainty is the most expensive cost in the global market

Confidence and energy continue to accumulate, and the Chinese economy remains the largest contributor to global economic growth

This' big difference 'stems from the multiple advantages and enormous potential possessed by the Chinese economy itself.

From the record high number of brands and enterprises participating in the Consumer Expo and Canton Fair held in China, to multiple multinational companies announcing capital increase and production expansion in China; From Kang Linsong, Chairman of the Board of Directors of Mercedes Benz Group, talking about "China is the Second Hometown", to BMW Group Chairman Zipser's words "home in China"; Many European and American companies' vote with their feet 'and give China thumbs up with practical actions.

Per capita GDP exceeds 13000 US dollars, firmly ranking as the world's second largest consumer market, first largest online retail market, and second largest import market; The overall scale of the manufacturing industry has remained the world's largest for 15 consecutive years; The working age population exceeds 800 million, and the total number of research and development personnel ranks first in the world... With a stable foundation, multiple advantages, strong resilience, and great potential, the confidence and energy of the Chinese economy continue to accumulate and demonstrate.

In the first quarter of this year, China's GDP grew by 5.4% year-on-year, and the import and export volume of goods increased to 10.3 trillion yuan, continuing to serve as the main engine and stable anchor of world economic growth. Against the backdrop of the shadow of protectionism looming over the global economy and impacting the international trade order, China continues to promote high-level opening up to the outside world, becoming an oasis of certainty and a hotbed for investment and development, providing valuable opportunities for all parties to achieve win-win development.

Bloomberg estimates based on data from the International Monetary Fund that China will become the largest contributor to global economic growth in the next five years.

Certainty and stability coexist as European and American companies continue to expand their business in China

This' big difference 'stems from a long-term optimism about the certainty and stability, cooperation space, and growth prospects of the Chinese economy.

The Australian government, businesses, and institutions have recently stated that in the context of significant global economic uncertainty, Australia's economic and trade cooperation with China is ushering in new development opportunities.

South Australian Minister of Trade and Investment, Joe Shokage, plans to visit China with a focus on expanding trade with China, particularly in industries such as food and wine. BHP CEO Henry bluntly stated that China's transition to a consumption driven economy and its ability to adapt to new trade flows will be key to maintaining the global economic outlook.

Bain, the head of trade policy at the British Chamber of Commerce, said that the certainty and development space of the Chinese market provide a reliable growth path for foreign companies, which is attracting British companies to continue to increase investment. In the fields of high-end manufacturing, education services, green technology, financial services, etc., China and the UK complement each other's advantages and have broad cooperation space

Ollie Hill, CEO of the UK's China Affairs Committee, believes that China's performance in global affairs is consistent and predictable. China has enormous growth potential and development space in key areas such as trade and artificial intelligence.

Yu Feng, President of Honeywell China, stated that Honeywell hopes to further expand its business in China and also looks forward to more participation in innovative research and development projects in China.

Michael Schuman, President of the German Federal Association for Economic Development and Foreign Trade, advocates that the EU should consider strategic adjustments, especially accelerating its tilt towards the Asian market, especially the Chinese market.

The more successful China is, the more successful we will all be, "said California Governor Newson, which is the inner monologue of many European and American companies'" Look East "strategic choices. On one hand, it advocates openness, inclusiveness, solidarity and cooperation, while on the other hand, it vigorously promotes "decoupling and chain breaking" and "small courtyards with high walls". Where is the 'oasis of certainty' and where is the 'ocean of uncertainty', the answer is obvious.

Open cooperation is a historical trend, and mutual benefit and win-win results are the will of the people. The facts continue to prove that China has been, is, and will always be an ideal, safe, and promising investment destination for foreign investors. Walking with China is walking with opportunities, believing in China is believing in tomorrow, and investing in China is investing in the future. A China that works hand in hand with all parties and achieves win-win cooperation will undoubtedly become the greatest force for addressing the challenges of global economic uncertainty and promoting common development and prosperity.