Foreign firms optimistic of Chinese market 
2019-09-23
Foreign-invested companies voice optimism about the Chinese market, stressing its irreplaceable role in their businesses and pledging further investment in the world’s second-largest economy.
Rachel Duan, president and CEO of General Electric’s Global Growth Organization, said China has always been the company’s key market since it started doing business here as early as 1906. 
“No matter in the early 20th century or now, the Chinese market has long been an important part of the global economy and will become a key engine for GE’s future development,” Duan said. “For any company, China is a strategic market that cannot be ignored,” she declared, noting that “it is a privilege that GE is a participator, witness and beneficiary of China’s social and economic development.”
Despite US-China trade tensions, the value of orders that this US-based company received in China exceeded US$8 billion in 2018. The company has announced it will open a new offshore wind factory in Jieyang and establish a new operation and development center in Guangzhou, both in Guangdong Province, in a bid to meet China’s growing demand for offshore wind energy.
GE is just one of the many foreign companies that remain bullish about the Chinese market. US-based Vanguard Group, the world’s biggest provider of mutual funds, considers China as one of the most crucial and indispensable markets worldwide. 
“Vanguard has firm confidence and determination about taking root in China in the long run and the company is committed to participating in the opening-up of China’s financial markets,” said Charles Lin, CEO of Vanguard Asia and chairman of Vanguard Investment Management (Shanghai) Ltd.
Despite a short history of a little more than 30 years, China’s capital market has developed rapidly. “China is currently the world’s third-largest stock and bond market, so we are very optimistic about China’s capital market and we will grow alongside its development,” Lin said.
He said he believes that China’s financial markets will become more and more open and the current pace of opening-up is much faster than expected.
“China’s financial and asset management markets are full of vitality and opportunity. As individual investors’ demand for wealth management keeps growing and regulatory authorities continue to introduce proactive and open policies, the markets will be provided even bigger boosts,” Lin noted.
Foreign direct investment expanded 6.9 percent year on year to 604 billion yuan in the first eight months of 2019.
