China remains major contributor to global economic growth: forum participants

China remains a major contributor to global economic growth and a hotbed of technological innovation, according to international participants at the China Development Forum 2025 in Beijing.

Themed "Unleashing Development Momentum for Stable Growth of Global Economy", the two-day forum, which brought together 86 official delegates from multinational companies from 21 countries, concluded on Monday in Beijing.

"China to open up, this is creating a much more attractive opportunity. We continue to invest in China and believe China will continue to be major contributor to the overall global growth," said Georges Bahjat Elhedery, CEO of international financial giant HSBC.

"In China, great talent in the population, but also a great market potential. Around the topics green transformation or artificial intelligence or also the new energy vehicles. So these are trends that are playing a fundamental role in China, where you have here in China a leading role in the world. And that's a reason why we have been here since 150 years. And we will stay here for much more years even," said Miguel Angel Lopez Borrego, CEO of German engineering company thyssenkrupp AG.

Speaking on the sidelines of the forum, international participants noted that an increasing number of countries are eager to deepen cooperation with Chinese enterprises, recognizing China's significant advantages in the development of advanced technology.

"It is highly innovative. It's producing the green and digital technology of the future and the rest of the world is seeing this and wants to be part of it. It wants to be part of it both in supply chains, in other words, having production in China. It wants to be part of it in the Chinese market. It wants to be part of it as a trade partner with China," said Jeffrey Sachs, a professor at Columbia University.

"China surprised again with latest technology. We have more than 50 plants in China, now they apply widely robots and AI to improve productivity in our processes. And this is working very well. And I think we are really setting an example for the rest of the world of our production networks," said Holger Klein, Chief Executive Officer of German technology manufacturing company ZF Group.

Highlighting the enduring importance of China for American businesses, Sean Stein, president of the U.S.-China Business Council, emphasized the strong commitment of U.S. companies to deepening ties with China.

"If you look at American business, American business is still deeply committed to working with China. Now they want to be in China for supply chain. They want to be in China for R and D and technological innovation. They want to be in China because so many good ideas are happening here in China. So China is an enormously important place for American companies to be, and that's why you see so many American CEOs here," said Stein.

Heads of multinational enterprises expressed their continued confidence in China's future development, citing favorable policies and the country's vast market potential.

"The equipment renewal and for people to upgrade and change their home equipment, elevators were included in that, which we think is critical. We've seen that picking up in our business. We call it modernization, renewal, refurbishment. That part of our business is probably going to grow the quickest over the next few years," said Judy Marks, CEO of elevator manufacturer Otis Worldwide Corporation.

"But I'm sure in the coming five years, especially with the new plan of five years now coming, it will be extremely important and relevant that we are going to expedite our investment in China," said Mohammad Abunayyan, founder and chairman of the Board of Directors of Saudi Arabia-based power generator ACWA Power.

This year's forum featured 12 symposiums and several closed-door sessions, covering topics such as healthcare, consumption, AI and sustainable supply chains.

China remains major contributor to global economic growth: forum participants

Voting for the second phase of Myanmar's multi-party democratic general election concluded on Sunday afternoon.

Voting began at 06:00 local time on Sunday. At 16:00, an election official at a polling station in Yangon's Latha township announced the closure of the polling station.

Following the closure, election staff at the polling station, in the presence of domestic and international media, candidates, and observers, counted the votes, including advance votes, for seats in the Pyithu Hluttaw (Lower House), Amyotha Hluttaw (Upper House), and State and Region Hluttaws (State and Region Parliaments).

The second phase of the election was held in 100 townships across 12 of the 14 regions and states. In the Yangon region, it was held in 16 townships, including the townships of Latha, Bahan, Kyimyindaing and Kawhmu.

"We welcome the election, which is expected to bring new changes to the country," said a Yangon resident.

"I hope the parties can lead us and make it a better country, which is why I support the election," said another voter.

Myanmar's multi-party democratic general election is being held in three phases, with the first phase held in 102 townships on Dec 28 last year, and the third phase scheduled for Jan 25 this year in 63 townships.

"The parliament is scheduled to convene in March. Following the conclusion of the session, the new government will officially take office in April. We hope that more foreign investment will flow into Myanmar, enabling the public to enjoy the opportunities generated by the country's economic development more fully," said Zaw Min Tun, leader of the Information Team of Myanmar's National Defense and Security Council.

The Union Election Commission (UEC) said that about 5,000 candidates from 57 political parties are competing in the three phases of the election, adding that it plans to set up over 21,000 polling stations across the country for all three phases of the general election.

The election will produce the elected members of the Union Parliament (Pyithu Hluttaw and Amyotha Hluttaw) and State and Region Parliaments; the new Union Parliament will then elect a new president, who will form a new Union Government.

Voting for 2nd phase of Myanmar's general election concludes