Foreign firms enthusiastic about opening-up progress

Q1 The third plenary session of the 20th Communist Party of China Central Committee in mid-July has rolled out the reform and opening-up roadmap for the Chinese economy in the coming years. What are your major takeaways from the plenum? What are the biggest opportunities you spot in China's new measures to deepen reform and further open up its economy? How do you plan to capitalize on these opportunities in your specific industry?

SHIH: We are encouraged by the announcement of various opening-up policy measures, including the deepening of reforms in foreign investment. These initiatives provide a favorable business environment for the long-term growth of foreign enterprises, including Rockwell Automation, in China.

Inspired by the policy measures, such as the removal of all market access restrictions in the manufacturing sector, Rockwell remains dedicated to assisting Chinese partners in enhancing their core competitiveness through our innovative solutions, ultimately aiding in the high-quality development of China's manufacturing sector.

Additionally, measures that encourage collaboration between foreign companies and upstream and downstream enterprises in industrial chains enable Rockwell to extend the advantages of digital transformation to our partners across the value chain. This cooperative approach fosters the development of mutually beneficial relationships that enable the growth and success of both Rockwell and local partners.

ZAMAN: The third plenary session of the 20th Communist Party of China Central Committee reaffirmed the importance of high-quality development for realizing Chinese modernization. In line with China's move toward opening-up, we are observing an evolution of the market access system, which will create opportunities for innovative enterprises and new sectors within the market. Additionally, China is actively encouraging businesses to adopt digital, intelligent and green technologies alongside innovative solutions to transform traditional industries. For Aveva, this presents many opportunities and we are working closely with customers, old and new, to support them in this journey.

HOMMA: The plenum reiterated that the Chinese government aims to "deepen the reform of the management system for foreign and outbound investment, expand the catalog of industries encouraging foreign investment, appropriately reduce the negative list for foreign investment access, and implement comprehensive measures to cancel restrictions on foreign investment in the manufacturing sector". For us, as a foreign enterprise, this is a very important signal of continuity and consistency of policy. Additionally, the resolution adopted at this meeting is crucial for foreign enterprises to understand China's current economic situation and to develop key business directions for the future.

With the new measures to further deepen reform of opening-up, I believe the greatest opportunities lie in promoting high-quality development and improving people's quality of life. Through this meeting, we can feel the positive momentum of China's economy and its resilience and potential for further development.

AYLMER: The highly anticipated third plenum outlined a new blueprint for China's economic and social development for the next five to 10 years. It projected continuity from the reform roadmap and emphasized high-quality development as the top task for China's next phase of modernization.

China's tourism development has stepped into the fast lane, forming the world's largest domestic tourism market and becoming the largest source country and main destination for international tourism. Figures unveiled by the Ministry of Culture and Tourism show that in the first half, both domestic and inbound trips saw stable growth. The macroeconomic data are highly consistent with the fact that our total revenue in the Chinese market continues to grow and indicates a gradual recovery of consumer confidence. We firmly believe that, from a long-term perspective, the Chinese market remains bright and full of opportunities.