Global business leaders eager to expand research, increase investment in China

China

Global business leaders eager to expand research, increase investment in China

2025-03-25 09:17 Last Updated At：16:17

Global business leaders expressed their enthusiasm for expanding research and increasing investment in China at the China Development Forum 2025.

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.

The executives attending the forum are keenly interested in China's economic dynamics and development strategies, with many arriving early to gain deeper insights into China's economic policies and technological progress.

During interviews with China Central Television (CCTV), the business leaders highlighted the buzzwords in China's development.

"That's a trade-in program, and I think that's a good sponsorship for consumption," said Stefan Hartung, chairman of the board of management of Robert Bosch GmbH, a German multinational engineering and technology company.

"We actually have strong partnerships with DeepSeek," said Michael Nelson, president and CEO of Amway, an American company that sells health, beauty and home care products.

"New quality productive forces are really the future of China," said Jean-Pascal Tricoire, CEO and chairman of the multinational electricity company Schneider Electric.

As the business leaders seek to increase presence in the country's vast market, they specified the regions where they aim to boost their investment in China.

"For us the opportunity is to penetrate all the cities," said Anil Wadhwani, CEO of Prudential plc, a British-domiciled multinational insurance and asset management company.

"We are opening up an organic farm in Sichuan Province, and so we will have a groundbreaking of that in the next several months," said Nelson.

"The places where we invest are the places where we do R and D, where we do manufacturing," said Tricoire.

"We need icy conditions for driving on ice, so we have to be in the north, right? Wuxi businesses, in Taicang, Suzhou, in Chongqing, in many areas we build up new businesses," said Hartung.

The business leaders also expressed their aspirations to diversify their portfolio in China, actively seeking out new avenues for growth and opportunity.

"And China needs more consumption. We are increasing our lineup for the home appliances," said Hartung.

"We continue to look at anti-aging products, we continue to invest into research and development capabilities," said Nelson. "We are developing with China green hydrogen. We want to develop the supply chain of desalination in China," said Mohammed Abunayyan, chairman of the board of ACWA Power, a Saudi Arabian company on power generation and desalinated water production.

Tunisia hit by power cuts as energy demand surges during record-breaking heatwave

A record-breaking heatwave has driven Tunisia's electricity demand to new highs, resulting in a series of power cuts that are starting to cause widespread disruption and leaving business owners sweating about the economic impact.

It comes as extreme temperatures grip much of the country, with local media reporting highs of nearly 50 degrees Celsius which are breaking historical records in multiple regions.

The intense summer heat has pushed Tunisia's power grid to its absolute limit. To prevent a total system collapse, authorities have enforced rolling blackouts during the hottest hours of the day.

These targeted outages are causing havoc for households and crippling businesses across multiple regions.

"The state is not doing its job well for the citizens. As you can see, the heat is unbearable, yet they cut the electricity at midday," said Mohamed Mkaouer, a local resident.

The economic fallout is hitting small businesses hard. In local markets, erratic supply surges are damaging commercial appliances and spoiling temperature-sensitive inventory, with many store owners lamenting the loss of produce.

"When the electricity is cut, what are we supposed to do with the food in the fridge -- throw everything away? Shop owners don't have the means to replace what they lose. Food, chocolate and other products spoil. People cannot live like this: electricity comes and goes suddenly, damaging the motors I depend on for my business," said Lazhar Hitana, a shop owner.

Energy analysts warn that the electricity deficit is a structural problem which shows that the grid is not prepared to handle such climate-induced demand surges.

"Nearly 50 percent of the electricity consumed in Tunisia during the summer is used for air conditioning. The country's electricity infrastructure was simply not designed to cope with such high demand," said Hamdi Hached, an environmental engineer.