Shanxi Province, a major energy hub in north China, is opening its door wider to global businesses, as representatives of multinationals and international trade groups visited the province to explore investment opportunities.
From Wednesday to Friday, more than 60 representatives of 40 international trade groups and multinationals, including 14 Fortune Global 500 companies, visited the province's Taiyuan and Jinzhong cities under a government-sponsored program.
Co-hosted by China Council for the Promotion of International Trade (CCPIT) and the Shanxi Provincial People's Government, the event is aimed at boosting cooperation and support for foreign businesses in China.
During the tour in Shanxi, a government-enterprise dialogue and investment promotion meeting was held, allowing the representatives to directly engage with government officials and raise their business concerns.
Ren Hongbin, chairman of CCPIT, said the number of delegations from multinationals being received by the CCPIT has surged since mid-2024.
"Since the second half of last year, the number of delegations from multinational companies we receive has grown significantly, especially those of large companies from Europe, the U.S., Japan, and Southeast Asia. Why? Because there's a shared understanding: as President Xi said, embracing China is embracing opportunities, believing in China is believing in a better tomorrow, and investing in China is investing in the future," Ren said.
Many representatives expressed strong interest in the province's energy, agriculture and cultural tourism sectors, and voiced their confidence in China's market.
"We are very optimistic about the Chinese market. According to the data we've seen, China is leading the world in energy transition. While the U.S. and Europe are showing some hesitation on energy transition, China continues to advance toward its dual-carbon goals which is to peak carbon emissions by 2030 and achieve carbon neutrality by 2060," said Gu Wen, the Northeast Asia VP of Marketing and Public Relations of Alfa Laval, a Sweden-based manufacturing and engineering company.
"GDP growth has been quite stable in the first two quarters of the year. China is going through a transition as you mentioned in multiple sectors, so there's going to be opportunities for Canadian businesses. I would say that a lot of our Canadian businesses are still optimistic about the opportunity of doing business here and we have members that are going to be coming later this year to engage in meetings as well," said David Perez-des Rosiers, Director of the Beijing Chapter of Canada-China Business Council.
Global firms explore business opportunities in north China's Shanxi
