Innovation as growth engine is 'spectacular'

MNCs eye solid cooperation with local companies as emphasis on technology pays off

China's strategy for innovation-driven development will create opportunities for multinational corporations to thrive in the country just as Chinese companies seeking to expand their global presence will prosper. These twin possibilities will likely come to pass as technologies are seen as key to boosting the global economic recovery amid headwinds, experts and business executives said.

Seeing big opportunities for cooperation in areas such as digital technologies, green energy and healthcare, foreign companies are increasingly valuing China not just as a vast market, but as a pioneering research and development hub for their global business, they said.

Henry Ding, president of 3M China, the local arm of 3M, an MNC engaged in industry, worker safety, healthcare, and consumer goods, said China's investments in modern manufacturing and infrastructure development will bring new opportunities for the company.