Yangtze River Delta magnet to global firms

"In accordance with their respective comparative advantages, cities across the region have attracted various industries and formed integrated industrial chains at different levels. This is also applicable in attracting talent. No matter world-class experts, medium-level management talent or industrial workers－corporates can always find their target employees within the vast human resources in the Yangtze River Delta region," Liu added.

Cui said KraussMaffei can find all kinds of talent in the Yangtze River Delta region, whether it be high-quality factory workers or senior management staff.

Having its new plant located at the center of a world-class innovative industrial cluster in Zhejiang, KraussMaffei hopes to fully take advantage of the local supply chain and work with partners to facilitate industrial upgrading of China's intelligent manufacturing and rubber and plastics industries.

Johnson & Johnson recently delivered its first ultra high definition 4K endoscopic imaging system in Suzhou, Jiangsu province, about 100 km west of Shanghai.

This is not only the first 4K endoscopic imaging system in China's arthroscopy field, but also the first time the US-based company manufactured a product representing this technology in China.

"In the post-pandemic era, people will pay more attention to exercise and health, so their demand for high-quality healthcare solutions will also increase. The successful delivery (of the system) is a strong signal that Johnson& Johnson Medical Devices has pressed a fast-forward button for manufacturing high-end medical devices in China," said Song Weiqun, chairman of Johnson & Johnson China.

Liu of Fudan University said the great potential of the Chinese market is appealing to enterprises in many sectors such as chemicals, consumer goods and machinery.

"When we talk about the scale of the Chinese market, we are not only talking about the country's consumption capability as an end market, but also the nation as the world's factory for all kinds of products to supply the world," Liu said.

"Emerging new technologies and trends, intelligent manufacturing as well as digital services and solutions will bring new opportunities to our industry," Cui said, adding that the more than 180-year-old KraussMaffei is looking to expand in the Chinese market, increase localization capabilities and create value for customers in China and the rest of the world.

From importing, producing and manufacturing advanced products, Johnson & Johnson is committed to cultivating an open innovation ecosystem, said Song. By supporting the development of a healthy China through intelligent manufacturing, Johnson & Johnson is committed to the long-term promotion of the concept of "Made in China, for China" and supports China's efforts to upgrade to high-end intelligent manufacturing.

Zuo Xuejin, a researcher from the Shanghai Academy of Social Sciences, called the foreign projects win-win situations.

"While multinational corporations are cashing in on the Chinese market, their investment is helpful for the sustainability of the industrial chain and technological innovation in China," Zuo said.