China has an enormous potential to have another great year in 2025 and Vale is very excited to be part of it and continue to work with clients in this growing market. China is super important for Vale, who has been doing business here for more than 50 years, even before Brazil and China had a diplomatic relationship. Vale is committed and will continue to be committed to Chinese clients and to the China market.

Rio Tinto is confident that China's economic growth is on course to achieve its annual target of around 5 percent for 2025, as the property sector is in a better shape than in previous years, while the green transition is really happening in the country, with the whole development of solar, wind, grid extensions, stationary power, and electrical vehicles, becoming a bigger and bigger business and having more and more impact on the GDP. Thanks to the ever-improving business environment for foreign companies to form partnerships, Rio Tinto had a record level of sourcing in China last year, creating win-win in trade.

China's commitment to a green energy transition is fueling optimism among multinational mining companies like BHP, which believes the shift will drive substantial long-term demand for commodities such as copper, its CEO said during the China Development Forum held recently in Beijing.

Mike Henry, CEO of the world's largest listed miner, said China's robust manufacturing base, scientific prowess and ongoing urbanization positioned the country to remain a global economic powerhouse. He highlighted the nation's shift toward sustainable growth as a significant opportunity for the mining industry.

"With its strong foundations in manufacturing, scientific research and urbanization, China is poised to continue its role as a global economic powerhouse," he said.

"As China transitions to more sustainable growth models, there is an opportunity for industries, including mining, to contribute to that effort."

The mining company expressed strong confidence in continued growth, driven by China's commitment to high-quality development and its energy transition initiatives.

While acknowledging China's broader economic transition, Henry highlighted a new demand driver: the explosive growth of data centers required to power the global AI ecosystem. He stressed copper's critical role in these facilities, particularly for power networks, circuit boards and cooling systems.

"Lesser known is the essential role copper will play in the development of the global AI ecosystem, which is attracting so much attention and investment around the world," Henry said.

BHP estimates that copper demand from data centers alone will balloon sixfold by 2050, reaching nearly 3 million metric tons annually from around half a million tons currently. At current prices, this represents a market worth approximately 200 billion yuan ($27.54 billion), it said.

Many think tanks and academic institutes believe copper has an essential role in the expansion of data centers, and in the expansion of electrical grids to meet new demand. Its usage includes electric connectors, busbars and heat exchangers.

Morgan Stanley forecasts demand from data centers will grow rapidly, accounting for up to 3.3 percent of copper demand by 2027, while BloombergNEF estimates approximately 427 million tons of copper will be needed by 2050, accounting for more than a third of global copper demand by mid-century.

Henry expressed optimism about the opportunities for collaboration between investors, governments, refiners and miners. He highlighted BHP's commitment to working with Chinese partners like China Baowu Steel Group Corp and HBIS Group on technologies to reduce emissions in steelmaking, and with copper customers to ensure reliable supply.

Chinese steelmakers have been showing deep commitment to reducing their carbon intensity, pursuing opportunities like hydrogen injection, as well as applying technology measures like carbon capture, utilization and storage.

"At BHP, we are optimistic this can be done. Working alongside our refining partners in China and other parts of the world, we can find new ways to get copper supply heading in the right direction again," he said.

zhengxin@chinadaily.com.cn

Standard Chartered PLC is firmly optimistic about China's economic prospects and has actively aligned its business strategies with economic trends, such as the high-quality development of the private economy and the rapid application of artificial intelligence technologies, in the world's second-largest economy, its top executive said.

"It's entirely possible for China to hit the economic targets that it has set as it had in recent years," Bill Winters, group chief executive of the bank, said in an exclusive interview with China Daily, pointing to the positive advancements in China while analyzing the challenges.

"We know that consumer confidence has been relatively weak, but we see very concrete actions that are being taken to support confidence and encourage consumers to spend more freely," Winters said.

"We also know that the source of some of this lack of confidence has had to do with the weak property market. But there are signs of stabilization certainly in the tier-1 and tier-2 cities and support coming from the government and the banking sector and elsewhere, which I think will help support this confidence."

Winters highlighted the "outstanding growth" made by China's private sector, in particular, the significant advancements made by private companies in climate-related new technologies and AI. China's leading positions in these new and emerging sectors, he said, "will provide an ongoing source of growth in the foreseeable future".

"China is extremely advanced in the development of these large language models and the AI tools that are built around them," he observed. "The pace with which those tools are being embedded into everyday life, whether it's a consumer life or business life, is very rapid."

Winters said the bank uses cloud applications and partners with leading Chinese tech companies. Additionally, Standard Chartered provides financial services to these companies, including lending and support for their international expansion.

He pointed out the opportunities for Chinese companies to distribute their products and technologies globally, making more contributions to world economic development.

"We've seen some pushback in the EV sector, for example, out of the United States and Europe. But through clever management of the various stakeholders around the world, I think China can take its technical lead and really make that a great basis for distribution of Chinese intellectual property around the world in a way that benefits its customers outside of China and benefits companies back home as well."

Standard Chartered, with a long history in China, has actively aligned its business strategies with the country's economic trends, he said, citing the bank's focus on cross-border businesses and its ability to support Chinese companies in their international expansion.

As for the prospects of tariffs and trade disputes that could perhaps prompt a global growth slowdown, he believes many of the tariffs that have been suggested around the world will not happen because everybody loses from tariffs.

Even if there are very substantial tariffs applied by the United States on Chinese imports, that would have a "noticeable but not overwhelming "impact on Chinese economic growth, he said, adding that is because China has tools at its disposal, like targeted fiscal stimulus and monetary stimulus, to offset such an impact.

Winters expressed support for the Chinese government's efforts to promote the high-quality development of the private sector. He emphasized the importance of policy consistency and predictability for private companies to thrive. "The messages are very supportive of the private sector," he said, "I'm very encouraged about the opportunities for private sector growth in China.

"We are very confident in the Chinese economy and in the private sector."

liuzhihua@chinadaily.com.cn

German industrial conglomerate Robert Bosch GmbH is bullish on prospects for applications of cutting-edge artificial intelligence technology and is actively expanding its research and development investment in the Chinese market, its top executive said.

Stefan Hartung, chairman of the board of management at Robert Bosch, said, "We have to see that China becomes not only a manufacturing location, but that it's also very much a research and development location, so about 10,000 of our 56,000 people are now engineers, mathematicians, physicists and people developing software that is made in China, for China."

He said in an interview with China Daily that the Chinese market is very research-intensive and Chinese consumers have very specific needs. Therefore companies need to also have R&D on the ground in China, and then the people can directly work with customers on the professional side to fit products with needs.

Hartung hailed China's recent achievements in the fast-evolving AI sector, such as the meteoric rise of Chinese AI startup DeepSeek, which has stunned the world with its latest reasoning models.

"That's a good contribution to the world because an open-source model always is a contribution for many people who do research like we do on AI. China definitely has a lot of potential in using AI, and I think going forward, we will also see a lot of applications, maybe in robotics, but maybe in automotives, maybe also core manufacturing operations. So I think there are a lot of opportunities."

He said the company has leveraged the state-of-the-art AI technology in autonomous driving, home appliance products and factories in China, adding, "Our Chinese colleagues are very good at that, so they are taking the newest technologies, applying them and inventing new ones, which is a good thing."

Hartung said Bosch has collaborated with many Chinese AI companies, such as autonomous driving startup WeRide.

"There are many other cooperation arrangements we have with AI companies in China, so it makes perfect sense to do this in cooperation."

As for China's emphasis on fostering new growth drivers, Hartung highlighted that the most important drivers include high-quality talents, which come out of schools, and technological innovation.

He said that a raft of policy measures boosting consumption unveiled by Chinese authorities — such as the consumer goods trade-in programs — have benefited the company in businesses of home appliances and auto parts in the world's second-largest economy, while showing optimism about the huge growth potential of China's consumer market.

Moreover, the company is promoting the development of low-carbon supply chains, and contributing to China's circular economy.

"We appreciate the efforts of the Chinese government in driving low-carbon development. Through forward-looking policies and initiatives, China is making remarkable progress and efforts to promote sustainable manufacturing, enhance resource efficiency and advance low-carbon supply chains," Hartung said.

Bosch has taken proactive steps to reduce emissions, enhance resource efficiency and integrate low-carbon technologies across its operations, he added. Last year alone, its facilities in China generated and consumed more than 60,000 megawatt-hours of green electricity from self-installed solar power systems — more than three times the level of 2020.

Noting that green hydrogen is a key technology in helping China achieve its dual carbon goals, he suggested further improving related support policies for the hydrogen industry, particularly in areas like incentivizing the purchase and operation of hydrogen fuel cell vehicles, and improving the hydrogen refueling infrastructure.

China has instilled global enterprises with greater confidence as the world's second-largest economy has placed a high premium on technological innovation and opening-up at a time when the world is grappling with a confluence of challenges, said a senior executive.

"We see that the Chinese government's sustained emphasis is on transforming the country toward high-quality growth driven by new quality productive forces," Marc Horn, president of Merck China, told China Daily during the recently concluded China Development Forum 2025.

China has been focused on driving innovation through open collaboration, bringing in foreign direct investments and creating a playing field where multinational firms can bring their global expertise to China while also learning from the innovations coming out of the country, Horn said.

"What is so unique about China's innovation ecosystem is the speed at which customer-focused technological solutions are being commercialized and scaled up, thanks to a well-integrated network of local partners along the industrial chain," Horn said.

The recent success of Chinese artificial intelligence startup Deep-Seek, which has captured global attention, is just one example of the country's thriving tech companies that are poised to shape the digital and AI landscape, Horn noted.

"We believe that AI will have a big impact on our R&D, innovation and production processes," Horn said. "If you're trying to find the best potential combination of many chemicals and molecules to generate a new product, that's where AI can help us a lot."

Over the past decade, Merck has deeply integrated itself into the country's innovation ecosystem through partnerships and investments, establishing manufacturing, technical services and R&D facilities mainly in Shanghai, Beijing and Jiangsu province.

"When we talk about investment now, it's not only about traditional capital expenditures. What we really try to do is to invest in people, talent and local partnerships, tapping into the wealth of knowledge and creativity within China," Horn said.

China's ongoing efforts to advance high-standard opening-up and foster a more enabling business climate have also anchored the confidence of global firms like Merck amid rising external uncertainties.

Regardless of how the international landscape may evolve, China will unwaveringly push forward with high-standard opening-up, and create a world-class, market-oriented and law-based business environment, said Han Wenxiu, executive deputy director of the Office of the Central Commission for Financial and Economic Affairs.

"Fair and equitable competition" is most important for foreign companies to have success, Horn said. "We really appreciate what the government has been doing over the last couple of years."

"China is now looking at opening-up in sectors such as telecommunication, healthcare and hospitals. I do think that will encourage more companies to come to China and collaborate with local companies," he said.

China's ambitious shift toward green energy is set to fuel significant demand for commodities like copper, aluminum and lithium, creating substantial opportunities for multinational mining giants such as Rio Tinto, its top executive said on Monday.

Speaking in Beijing, Jakob Stausholm, CEO of Rio Tinto, underscored China's indispensable role as the world's major manufacturing powerhouse and a cornerstone market for the Anglo-Australian miner.

"China, the manufacturing hub of the world, is fundamental for us and accounts for a commanding 57 percent of our total revenue, solidifying its position as our largest customer," said Stausholm.

Beyond just a market for the company, China has been rapidly evolving into a crucial sourcing partner, with procurement from the country exceeding $4.2 billion in the past year alone, reflecting a deepening economic interdependence, Stausholm said.

He emphasized the country's resolute drive toward a sustainable future through massive investments in solar and wind energy infrastructure, the expansion of sophisticated grid networks, cutting-edge battery production facilities, and the burgeoning electric vehicle industry.

"China is amazing in terms of energy transition, starting from rollouts of solar energy and onshore wind, expanding the grid network, and EVs. It all leads to more demand for our commodities, providing massive opportunities for multinational corporations like Rio Tinto," he said.

Industry experts believe China's rapidly expanding green energy sector represents an unprecedented market opportunity for international energy companies.

China's dual drivers of ambitious carbon neutrality targets and massive renewable energy investments make it a highly compelling destination for global firms, said Wang Lining, director of the oil market department under the economics and technology research institute of China National Petroleum Corp.

Participation in this dynamic market allows companies to tap into the world's largest energy consumer base, diversify their global operations away from traditional fossil fuels and secure a strategic foothold in the vanguard of the global energy transformation, he said.

Stausholm articulated strong confidence in China's economic trajectory, citing the government's recent reaffirmation of its ambitious 5 percent growth target for the current year amidst a complex global economic landscape.

"China is growing strongly and has just reconfirmed a 5 percent growth target for this year. I see increased confidence from the government in its growth target," he said.

"I do think that there is a tremendous number of opportunities for innovative growth in China and beyond. It seems that the growth in innovation seems to accelerate."

To effectively meet this anticipated surge in commodity demand, Rio Tinto is strategically ramping up its global production capabilities.

A cornerstone of this strategy, according to Stausholm, is the imminent commencement of production at two major projects, the world-class Simandou iron ore project in Guinea and the strategically vital Western Range project in Australia, both slated to begin operations this year.

These projects are crucial for ensuring a consistent and reliable supply of high-quality iron ore to China's steel industry and the superior grade of iron ore from Simandou will be particularly beneficial for Chinese steelmakers as they intensify their efforts to reduce carbon emissions within their energy-intensive operations, he said.

Beyond the critical role of iron ore, Rio Tinto is strategically positioned to become a key supplier of a broader spectrum of essential materials vital for China's ambitious energy transition, including lithium, a critical component in batteries powering EVs and energy storage solutions; copper, indispensable for expanding and upgrading electricity grids and renewable energy infrastructure; and aluminum, crucial for light-weighting vehicles and constructing renewable energy systems.

"We are excited to support this innovative growth in China and supplying lithium, copper and aluminum to Chinese industry," Stausholm said.

While acknowledging the prevailing global economic uncertainties and simmering trade tensions that cast a shadow over international commerce, Stausholm emphatically reiterated Rio Tinto's unwavering long-term investment strategy and steadfast commitment to the Chinese market.

China's ambitious energy transition is not merely a regional phenomenon but a global megatrend, said Stausholm.

This will act as a significant and sustained growth driver for Rio Tinto and the broader commodities sector in the foreseeable years to come, positioning the company to benefit from the evolving global economic order, he said.

While the tariff policies wielded by the United States have ushered global businesses into a period of increased uncertainty, China is focused on building open and shared industrial chains to embrace international cooperation, and is leveraging its growing consumption momentum to boost global demand, senior economists said.

"While the high tariffs tipped by US President Donald Trump were a major shock, the deeper problem lies in the pervasive uncertainty that these policies have introduced into the global industrial landscape," said Zhu Min, former deputy managing director of the International Monetary Fund, during the recently concluded China Development Forum.

But Washington doesn't just stop there. Zhu said that the Trump administration's recent emphasis on "reciprocity" extends far beyond just tariffs, and includes "equivalence" in market access and capital market openness, among others.

Trying to achieve this level of comprehensive "reciprocity" across all these domains will likely add significant complexity and cost to the process of global industrial restructuring, Zhu said.

Since early this year, the restructuring, mergers and acquisitions of enterprises embedded in the global industrial chain remain sluggish, and large companies are reluctant to commit to long-term investment, due to the sheer scale of prevailing uncertainties stemming from the White House, Zhu added.

The Economic Policy Uncertainty Index for the United States — devised by researchers from Northwestern University, Stanford University and the University of Chicago — surged to an unprecedented level in February, reflecting the confusion and apprehension among investors and businesses since official data on the index were first compiled in 1985.

"This is the critical issue that companies must grapple with in the current environment of profound policy unpredictability," said Miguel Angel Lopez Borrego, CEO and chairman of Thyssen-Krupp AG, a German engineering and steel production enterprise.

Major foreign firms must be able to strike a delicate balance between globalization and regionalization, Borrego said, noting that many of the innovations needed to reshape these crucial global networks can only be realized through close collaboration between companies and governments across borders.

China possesses some of the most extensive and well-developed industrial and supply chain networks, complemented by a world-class logistics infrastructure, he said, adding that by tapping into China's expansive industrial and logistical resources, and cultivating deeper relationships with local partners, companies are able to reduce their costs and improve resilience to risks, and, more importantly, enhance their competitiveness in the global arena.

"Over the past few years, China's homegrown brands, technologies and domestic market are increasingly underpinning the evolution of its industrial and supply chains," Zhu said. "Meanwhile, Chinese companies are actively extending their reach from domestic value chains to global industrial ecosystems, integrating with international production networks."

Li Dongsheng, founder and chairman of consumer electronics company TCL Technology Group, said that Chinese companies are moving beyond a model focused solely on product exports, and instead are increasingly focused on setting up local production and assembly facilities overseas, and establishing regional operational hubs.

By deeply integrating their core competencies such as technological know-how and management skills with local economic development, they can foster open, collaborative and mutually beneficial industrial chains, Li added.

Zhu said China's consumption-boosting initiatives will help bolster overall demand in the international marketplace and emerge as a pivotal contribution to the stability of global industrial chains.

Earlier this month, China's policymakers set the country's deficit-to-GDP ratio at the highest level on record, in order to provide a much-needed boost to the nation's tepid consumer demand, and they also rolled out an action plan to shore up consumer spending, with a focus on increasing household incomes.

Increasing China's consumption base, while fostering the growth of both domestic and foreign brands catering to the Chinese market, will be critical, Zhu said, adding that as Chinese consumers become ever-larger drivers of worldwide demand, they provide a vital counterbalance to the potential volatility and contractions that could otherwise ripple through international supply networks.

"There are many areas where China can be a leader," said Ian Goldin, professor at the University of Oxford, to China Daily Website at the China Development Forum on Monday.

He noted that China still has significant room for economic growth, with an increasing number of positive market factors and a steady rise in investment. Goldin also commended China's policy of opening-up to the world. Check out this video to learn more.

The real magic of artificial intelligence is the industrial use of AI, said Sean Stein, president of the US-China Business Council, on the sidelines of the China Development Forum 2025. "AI becomes a platform to speed up the development of other critical technologies to create wealth, to develop new products, and that makes the world a better place."

The two-day China Development Forum 2025, which concluded in Beijing on Monday, has once again demonstrated China's commitment to fostering a stable and open business environment as the world navigates economic uncertainties and geopolitical tensions.

The top executives of global multinationals attending the forum praised China's unwavering openness, saying it will accelerate new industrialization, sustainable growth and digital innovation. They pointed to China's increasing technological prowess and market-driven efficiency as key factors generating fresh prospects for international enterprises. These reflect their view that China is still an attractive investment destination.

Ministry of Commerce data show that 7,574 foreign-invested enterprises were established in China in the first two months of 2025, representing year-on-year growth of 5.8 percent. Meanwhile, foreign-invested businesses in China saw their export value grow 6.9 percent year-on-year to 1.08 trillion yuan ($148.78 billion), according to the General Administration of Customs.

Development remains the ultimate driver of economic prosperity, the foundation of human well-being and the most powerful remedy for global tensions.

While some nations remain trapped in a counterproductive zero-sum game, China has chosen the path of bridge-building and inclusive progress. China extends a genuine invitation to the world — cooperation over confrontation, shared growth over isolation and collective prosperity over narrow self-interest.

This approach offers a practical way out of today's economic stagnation. Where others see walls, China builds connections; where some promote decoupling, China advocates collaboration. In doing so, it reaffirms that the future of global growth lies not in fragmentation, but in unlocking development opportunities for all.

China remains steadfast in advancing an inclusive, mutually beneficial open world economy. This commitment underscores its responsible global leadership while delivering stabilizing forces and strategic impetus to international economic development.

China's economic trajectory remains one of the most compelling stories of the 21st century. By deepening reforms and expanding high-standard opening-up, it is continuously offering opportunities for global enterprises. China's steady hand and inclusive policies provide a much-needed anchor for global growth. The world should take note — those who engage, rather than retreat, will reap the rewards of this dynamic market.

- Zhang Xi, China Daily

Thailand's TCP Group, the owner of the Red Bull brand, is increasing its investment in China, capitalizing on the country's continued economic resilience and commitment to market reforms, CEO Saravoot Yoovidhya said on Monday at the 2025 China Development Forum.

"China has shown remarkable openness and inclusion over the past decades. Its steady GDP growth of 5 percent in 2024 injected new momentum into the global economy, reinforcing China's position as a key driver of stability," Yoovidhya said.

Since introducing Red Bull to China in 1993, TCP has steadily expanded its footprint in the country. The company has invested 4.36 billion yuan ($610 million) in China over the past five years and plans to ramp up spending on production expansion, research and development, and supply chain digitalization.

"We see China as a core market for our global strategy," Yoovidhya said. "The country's digital transformation, green development, and push for high-quality growth create vast opportunities for companies worldwide."

TCP's investments in China have benefited from the country's regional development initiatives, including the Hainan Free Trade Port. The company has expanded its production facilities from Hainan to Sichuan province and Guangxi Zhuang autonomous region, strengthening its supply chain to meet growing consumer demand.

"As part of our ‘In China, For China' strategy, we are transitioning from a traditional beverage producer into an intelligent, full-solution manufacturer," Yoovidhya said, emphasizing the company's long-term commitment to the Chinese market.

The company's focus aligns with China's broader economic policies, which encourage foreign businesses to deepen their presence in the country.

Yoovidhya noted that these policies are making China an increasingly attractive destination for multinational corporations. "China's commitment to high-level opening-up and its alignment with international trade standards create a stable and predictable environment for businesses like ours," he said.

This year also underscored the broader economic relationship between China and Thailand, as 2025 marks the 50th anniversary of diplomatic relations between the two countries.

"This year is particularly significant," Yoovidhya said. "As we stand at this new historical starting point, we look forward to strengthening China-Thailand economic ties and contributing to high-quality development in both countries."

TCP plans to leverage its resources and brand influence in the energy and functional drink industry to support greater trade and investment cooperation. "We see huge potential for collaboration in consumer markets, intelligent manufacturing, and supply chain innovation," Yoovidhya added.

chengyu@chinadaily.com.cn

BEIJING - Chinese Commerce Minister Wang Wentao on Monday met with Brian Sikes, president and CEO of Cargill in Beijing, according to a statement released by the Ministry of Commerce.

During the meeting, the two sides exchanged views on topics including Cargill's business development in China, as well as China-US economic and trade relations.

Wang noted that the recently concluded "two sessions" meetings in China sent out positive signals, demonstrating the country's confidence and resolve in expanding high-standard opening-up and maintaining stable economic growth in a complex international environment.

This will create more opportunities for global enterprises, he said, expressing the hope that Cargill will continue to invest and deepen its presence in China.

There are no winners in tariff or trade wars, he noted. The United States' unilateral imposition of additional tariffs under such pretexts as the fentanyl issue is the wrong approach and severely violates WTO rules, harms the interests of US consumers, and undermines the security and stability of global industrial and supply chains, Wang added.

He stressed that economic and trade cooperation between China and the United States on the basis of mutual benefits serves the common interests of both countries.

China stands ready to enhance dialogue and communication to foster a more stable development environment for businesses on both sides, Wang said.

Cargill is committed to providing Chinese consumers with high-quality, reliable products and services, Sikes said. He expressed firm confidence in China's future development, emphasizing that the company will expand its investments in China, and deepen scientific and technological innovation.

IKEA, a leading global home furnishings maker and retailer, remains deeply committed to the Chinese market, reinforcing its long-term presence through strategic investments in retail and supply chain operations and sustainable development, said its top executive.

Jon Abrahamsson Ring, CEO of Inter IKEA Group, said that the company is committed to China's economic landscape, innovative supply chains and sustainable initiatives during his participation at the China Development Forum 2025 held on Sunday and Monday in Beijing.

With a history of doing business in China spanning six decades, IKEA sees significant potential for continued growth. "We are very confident, we believe in China and are planning now for the next 60 years," Ring said.

The CEO said that the company aligns with China's long-term strategic vision, highlighting shared values in sustainability and accessibility. Serving about 1 billion customers annually, IKEA is committed to providing affordable home furnishing solutions while prioritizing environmental responsibility, he added.

Recognizing the vast potential of the retail market, Ring said that IKEA serves about 90 million customers in China each year but sees ample opportunity for expansion in a market of over 1.4 billion people.

He oversaw the retail business of IKEA in the early years when the company entered the Chinese market.

IKEA is evolving beyond its traditional large-format stores by integrating smaller store formats that are closer to urban communities, as well as enhancing its e-commerce solutions to reach more consumers.

In addition to its large store format in suburban areas, IKEA has introduced smaller retail formats in recent years which enable more frequent customer visits and attract new customers by bringing them closer to the brand. "Instead of visiting our big stores an average of four times a year, they now visit smaller stores 10 to 12 times a year," he said.

The company has also capitalized on its growth in global e-commerce. "We have gone from less than 5 percent e-commerce five years ago, to today where it accounts for 26 percent," Ring added.

In addition to retail, China plays a vital role in IKEA's global supply chain, contributing over 25 percent of its global sourcing. "We source almost all our material categories here in China," Ring said.

This regional strength allows IKEA to maintain a robust supply chain network, with 80 percent of its products sold in China being sourced from China. "The combination of global and regional capabilities makes us more resilient," he said.

IKEA fosters long-term relationships with over 300 suppliers in China, encouraging collaboration in innovation and sustainability efforts.

"On average, we have worked with our suppliers in China for 15 years or more. We don't just buy and leave, we develop methods to recycle materials, optimize production processes and minimize waste together," Ring said.

The company is also at the forefront of automation in furniture production. "Manufacturing today is highly automated, especially for bookcases, kitchens and wardrobes. It's a data-driven process, optimized from design to distribution," he said.

Sustainability is a central pillar of IKEA's strategy in China, with ambitious goals for renewable energy adoption and emissions reduction. The company has managed to grow global sales by 10 billion euros ($10.84 billion) over the past decade while reducing absolute CO2 emissions by 28 percent. "China is our leading market when it comes to renewable energy," Ring said.

He praised China's rapid advancements in renewable energy infrastructure, which have enabled IKEA to make significant progress. "In 2021, we had 5 percent renewable electricity in our supply chain in China. In fiscal year 2025, the renewable electricity share in our supply chain in China reached 92 percent," he said.

As IKEA continues to evolve in China, it remains focused on its founding mission. "For 82 years, we have done one thing — making good home furnishing products affordable for as many people as possible," Ring said.

wangzhuoqiong@chinadaily.com.cn

The world's leading technology company and automotive supplier ZF Group has reinforced its dedication to boosting the high-quality development of China's automobile industry amid rapid advancements in intelligence and electrification.

Holger Klein, CEO of ZF Group, highlighted the effects of artificial intelligence on mobility during the China Development Forum in Beijing, which ran from March 23-24.

He noted that AI is transforming mobility, which is supported by interconnected systems that regulate vehicle dynamics in response to road conditions. A key part of this transformation involves ZF's development of cubiX. This is an AI-driven software that coordinates vehicle controllers such as steering, braking, and suspension, to improve driving smoothness, safety, and comfort.

As a leading global supplier of chassis technology, ZF provides an extensive range of electronically controlled steering and braking systems, as well as suspension systems. Combined with cubiX software, these technologies are laying the groundwork for software-defined vehicles.

ZF's Chinese team has made strides with AI-based off-road recognition software, which uses chassis data to enhance vehicle control on rough terrain, thereby improving safety and performance under challenging conditions, Klein said.

Moreover, ZF employs analytical AI algorithms to automate processes and optimize production efficiency. In its smart factories across China, AI-powered predictive maintenance minimizes downtime and ensures maximum production line efficiency. AI also plays a crucial role in the visual quality inspection of products, identifying even the smallest deviations to maintain high reliability.

"China has long been at the forefront of AI innovation, with leading technology firms and dynamic startups setting impressive standards. At ZF, we embrace the opportunities that AI provides and are proud to be part of this progressive journey," Klein said.

By leveraging AI, ZF enhances efficiency, productivity, innovation, and speed. The company is investing in robust data infrastructures, AI competencies, and workforce upskilling. The integration of AI spans various functions, including R&D, production, and operations, with more than 20 AI-driven projects across ZF's operations in China.

ZF's long-term commitment to the Chinese market is demonstrated through sustained investment, innovation, localization, and eco-partnerships, contributing to the advancement of China's auto industry.

"China, as the world's largest auto market, has always been strategic for the ZF Group. Many of our new products and cutting-edge technologies have made their world premieres in China in recent years," said Klein.

At its Zhangjiagang campus in Jiangsu province, ZF's localized active kinematics control system has achieved standard operating procedure since 2024. It has also been applied to domestic leading vehicle models. SOP of the Nio ET9 sedan, equipped with steer-by-wire system, is scheduled for the first quarter.

ZF's investment and innovation in China have remained steadfast over the past year. In August, ZF expanded production capacity for electric park braking calipers in Wuhan, Hubei province.

In November, ZF's third E-mobility plant in China began operations in Shenyang, Liaoning province. Simultaneously, an agreement was signed to expand an electric power steering system project in Shanghai.

Recently, ZF announced the creation of a joint venture in Guangzhou to develop automotive safety electronics.

To strengthen the "local for local" strategy, ZF is giving more autonomy to the region. Many operational decisions — from budget approvals to supplier and customer negotiations — now reside within the Asia-Pacific HQ in Shanghai.

ZF's R&D hubs in Shanghai, Jiaxing, Jinan and Guangzhou, led by Chinese engineers, have delivered many world premieres and recently pioneered AI-driven solutions tailored to regional pain points. China is now ZF's homeroom of global product lines and functions.

ZF is continuing to build its partner ecosystem. The company has deepened its strategic cooperation with Foton, a Chinese commercial vehicle manufacturer. The new hybrid transmission TraXon 2 Hybrid is set to debut globally in China.

Additionally, ZF has signed an agreement with Farizon, Geely's commercial vehicle brand, to develop a comprehensive range of new energy vehicle products and intelligent solutions.

"Over the past four decades, ZF has firmly established itself in China, demonstrating resilience and flexibility in a complex and dynamic market environment. We have been enhancing our competitiveness and swiftly responding to our customers' diverse needs," said Renee Wang, executive vice-president of ZF Group and president of ZF China and Operation Asia-Pacific.

"We will continue to promote localization across multiple levels, including production materials, equipment, R&D and talents, while strengthening eco-partnerships to better serve the Chinese market and drive industrial upgrading," she added.

caoyingying@chinadaily.com.cn

BEIJING - Chinese Commerce Minister Wang Wentao met with Apple CEO Tim Cook in Beijing on Monday, according to a statement released by the Ministry of Commerce.

During the meeting, the two sides exchanged views on topics including Apple's business development in China, as well as China-US economic and trade relations.

Wang noted that the Chinese economy has demonstrated strong resilience and vitality, becoming a fertile ground for innovation-driven development.

China remains unwavering in its commitment to expanding its opening-up to the world, providing foreign-funded enterprises with a level playing field, and supporting their products' equal participation in consumption-boosting policies such as trade-in programs, Wang said.

He also expressed the hope that Apple will expand its investments in China and integrate deeply into the Chinese market to share in the opportunities of the market's development.

Wang emphasized that trade wars produce no winners and protectionism offers no way forward. As the world's two largest economies, strengthened China-US economic and trade cooperation aligns with economic principles, whereas decoupling and supply chain disruptions would harm all parties' interests, he said.

Noting that the unilateral tariff increases and other restrictive measures adopted by the US side have created uncertainties for the world economy, he said that China stands ready to work with the United States to create a more stable policy environment for businesses through equal dialogue.

Apple will continue to increase investments in sectors such as supply chains, research and development, and social responsibility in China, aiming to support the country's high-quality development, Cook said.

Cook emphasized that the company stands ready to play an active role in promoting the stable, healthy development of China-US economic and trade relations.

China's emphasis on advancing the application of fast-evolving artificial intelligence technology in a wide range of industries will inject new momentum into the country's high-quality economic growth and create enormous opportunities for multinational corporations to invest in the country, said government officials and business executives.

Liu Liehong, head of the National Data Administration, said AI technology is promoting economic and social development at an unprecedented speed and has become an important driving force bolstering a new round of technological revolution and industrial transformation.

Liu made the remarks on Monday at the China Development Forum 2025 in Beijing, emphasizing that the advancements of AI technology are closely linked with the development and utilization of data, while the combination of high-quality data with AI will give full play to the multiplier effects of data elements.

He said the administration will accelerate the establishment of basic systems for data, step up the supply of high-quality data and press ahead with the construction of digital infrastructure such as a national integrated computing power network, to lay a solid foundation for AI innovation and industrial applications.

This year's Government Work Report stated that under the AI Plus initiative, the nation will work to effectively combine digital technologies with its manufacturing and market strengths, and support the extensive application of large-scale AI models.

"For businesses in China looking to boost their productivity and maintain competitiveness, technologies led by AI present an unprecedented opportunity to create value, respond dynamically to change and build resilience," said Samantha Zhu, chairwoman of Accenture Greater China.

Zhu said the recent progress in the wave of AI-led innovation is very encouraging as companies quickly pick up the signal and mobilize themselves to harness the use of such technologies. "We anticipate more innovation and applications happening across industries and functions, from R&D to manufacturing, from customer interface to warehouse, from upskilling to sustainability," she added.

China's AI sector will make big strides in the next 10 to 15 years, with its market size reaching 1.73 trillion yuan ($238.4 billion) by 2035, accounting for 30.6 percent of the global total, said market research company CCID Consulting.

Executives attending the forum also hailed China's efforts in bolstering technological innovation and cultivating new growth drivers. Ola Kaellenius, Mercedes-Benz Group's chairman of the board of management, who attended the forum, said it is always innovation and technology that spread growth.

He highlighted China's striving for innovation and the environment and policymakers that support unleashing such potential, adding: "That's why we have been investing in R&D in China. With the dual R&D engines in Beijing and Shanghai, we are innovating in China, for China and for the world."

The chairman said: "The Chinese market is a main pillar of our global strategy, and a key driver of our electric and digital transformation. Mercedes-Benz remains committed to long-term investment in China."

The company is investing 14 billion yuan in China together with local partners into new cars and new technologies, and expanding its footprint here.

Denis Depoux, global managing director of consultancy Roland Berger, said people now realize that there's so much innovation in China, and it is quite critical for foreign companies to continue to invest in technological research and development in China. Depoux expects that there will be a lot of scientific discoveries and disruptions coming into innovation.

"In the past decade, we have seen Chinese companies leapfrogging globally in many industries. China has made rapid progress in the development of AI technology, becoming one of the global leaders, and the pace will further accelerate. AI will unlock massive opportunities for our business," he said.

fanfeifei@chinadaily.com.cn

BEIJING - Chinese Commerce Minister Wang Wentao met with Cristiano Amon, president and CEO of Qualcomm, in Beijing on Monday, according to a statement released by the Ministry of Commerce.

During the meeting, the two sides exchanged views on topics including Qualcomm's business development in China, as well as China-US economic and trade relations.

Wang emphasized that closer government-business cooperation is essential to address risks and challenges amid rising global instability and uncertainty.

The Chinese government remains unwavering in pursuing high-standard opening-up, expanding market access, actively addressing the concerns of businesses, and facilitating the deeper integration of foreign-funded enterprises into the Chinese market, he said.

He noted that China is intensifying and expanding its consumer product trade-in programs, with enormous market potential creating greater development opportunities for multinationals, including Qualcomm.

As the momentum of semiconductor and artificial intelligence technological development and application grows stronger in China, Qualcomm's business aligns with Chinese demand, he said.

Wang expressed the hope that Qualcomm will capitalize on these opportunities and deepen its roots in China.

Qualcomm, having developed in China for nearly three decades, has achieved remarkable accomplishments, Amon noted. Expressing full confidence in China's future development, he said that the company will continue to increase its investments in China, and facilitate constructive dialogue between the United States and China.

China's unwavering commitment to opening-up will propel new industrialization, green growth and digital transformation, showcasing the nation's growing strength in innovation and demand-driven productivity and creating fresh opportunities for global businesses, said top executives of leading multinational corporations on Monday.

Speaking at the China Development Forum 2025, held in Beijing on Sunday and Monday, the executives emphasized that as China shifts toward innovation-driven and green growth, foreign companies are committed to working with local partners, investing in high-end manufacturing, artificial intelligence and service industries, and strengthening their supply chain capabilities within the country.

During a symposium on the sidelines of the forum on Monday, Li Yongjie, deputy international trade representative of the Ministry of Commerce, outlined the country's next steps. Li said China will further advance comprehensive pilot programs to open up the services sector, promote the orderly opening of industries such as the internet and culture, and expand access to key areas including telecommunications, healthcare and education.

Encouraged by these efforts, Christophe Weber, president, CEO and representative director of Takeda Pharmaceutical Co, said his company will make targeted investments in data and digital solutions in China to unleash the power of new technology for the future of healthcare.

In January, the Japanese company announced the signing of an investment cooperation agreement to establish its China innovation center in Chengdu, Sichuan province. The facility will focus on digital healthcare innovation and will develop solutions using big data and artificial intelligence.

Danish technology and engineering conglomerate Danfoss Group has also seen strong momentum in sectors aligned with China's development priorities, with 70 percent year-on-year growth in its data center business and 29 percent in its marine business in China in 2024.

Kim Fausing, president and CEO of Danfoss, said the group will further scale up its presence in China in 2025 and beyond. The company will start mass production later this year at its campus in Nanjing, Jiangsu province, producing insulated gate bipolar transistor modules and electric and hybrid power train systems. This follows the launch in January of its newly upgraded application development center in Suzhou, Jiangsu.

Acknowledging the shift in foreign investment patterns in China, John Quelch, executive vice-chancellor and American president of Duke Kunshan University in Jiangsu, said China's renewed commitment to opening up to foreign investment — backed by consistent government support and a more level playing field — is highly encouraging.

"With the country's growing innovation capabilities, foreign investment is increasingly focused on collaborative research and development activities, rather than being limited to manufacturing alone," he said.

Jean-Pascal Tricoire, chairman of French industrial group Schneider Electric, said that with the development of digital technology, China's cultivation of new quality productive forces is not only driving the rise of the nation's emerging and future industries, but also transforming and upgrading traditional industries.

A total of 7,574 foreign-invested enterprises were newly established in China in the first two months of this year, representing year-on-year growth of 5.8 percent, statistics from the Ministry of Commerce showed.

Meanwhile, foreign-invested businesses in China saw their export value grow 6.9 percent year-on-year to 1.08 trillion yuan ($148.9 billion), according to the General Administration of Customs.

Expressing concern over rising global protectionism, Oliver Zipse, board chairman of Germany's BMW AG, said that economic growth thrives through opening, not closing.

Zipse warned that such measures will diminish prosperity for all, emphasizing that the best response to decoupling or de-risking is more cooperation, not less.

Antoine de Saint-Affrique, CEO of Danone SA, a French multinational food products company, said that given China's economic significance, a healthy and growing China benefits the entire world.

Faced with growing external uncertainties, China's focus on advancing its high-quality development agenda will not only bolster domestic resilience but also contribute to global economic stability and prosperity, senior officials and businesses executives said at the China Development Forum 2025 in Beijing.

In particular, the stronger emphasis of the world's second-largest economy on consumption and innovation this year, along with its unchanged commitments to wider openness, has provided great opportunities for global businesses to grow in the Chinese market and beyond, they said at the two-day event, which concluded on Monday.

Han Wenxiu, executive deputy director of the Office of the Central Commission for Financial and Economic Affairs, said, "China's economy continues its upward trajectory this year, and there is still ample room for policymakers to leverage countercyclical adjustments."

Backed by a steadfast commitment to high-quality growth, China is going to provide a crucial source of stability and certainty for the world economy, he added.

To this end, Han said that China is striving to "position consumption as the primary driving force and stabilizing pillar of its economic growth".

"While China already boasts a sizable consumer market, the proportion of consumption in the national economy and total demand is still relatively low, lagging behind developed countries by around 20 percentage points. This indicates immense potential for further consumption expansion," Han said.

Earlier this month, the Chinese government rolled out an action plan dedicated to boosting consumption, with a particular focus on promoting higher household incomes and alleviating financial pressures on consumers.

The implementation of a comprehensive reform package aimed at catalyzing consumption and improving productivity could raise China's annual potential growth rate by around 1 percentage point in the medium term, said Nigel Clarke, deputy managing director of the International Monetary Fund.

According to IMF research, this would translate to a nearly 20 percent increase in the country's GDP level by 2040 compared with the baseline forecast.

Meanwhile, it is imperative to recognize that the global economy is experiencing a profound transformation, driven by many factors. One of the most important of these might be technology, artificial intelligence in particular. That holds true for China as well, said Roland Busch, president and CEO of Siemens AG.

China announced in its Government Work Report in March that the country, under the AI Plus initiative, will work to effectively combine digital technologies with its manufacturing and market strengths.

Han said that by placing science and technology at the forefront, the nation is actively deploying digital technologies, green technologies and AI to upgrade and revive traditional sectors while nurturing the industries of the future tailored to local conditions.

Anil Wadhwani, CEO of Prudential, said: "A shift toward a more consumption-driven economy and strategic capital allocation to high-growth sectors will be critical for long-term sustainability. The world is watching as China's success directly influences global economic stability."

"With world-class manufacturing, technological advancements and deep global market integration, China is uniquely positioned to lead the next phase of high-quality growth," he added.

Despite the challenges the global community has faced in recent years, the value of openness and cooperation as a catalyst for mutual progress has been consistently validated, according to business executives.

"Today, we are living in a world that faces an ever-growing range of complex challenges from increased geopolitical tensions, fragmented economic growth, to rising risks of extreme weather and natural catastrophes to name but a few," said Andreas Berger, CEO of Swiss Re.

"These and many other challenges require us to work even more closely together. As such, global collaboration and constructive dialogue are even more vital to navigate issues and ensure a shared prosperous future," Berger added.