DOOR OPENED WIDER FOR FOREIGN-INVESTED BUSINESSES

Positive policies, easier market access and advances in innovation attract more overseas players

When discussing the pace of innovation in China, Matthew Ye, the local head of French tire and mobility company Michelin, offers a perspective that differs from many senior executives in other parts of the world.

Collaborating with Chinese electric vehicle companies and traditional car manufacturers has become more demanding in terms of response speed and technical requirements compared with the past, said Ye, CEO and president of Michelin China and Mongolia.

"As a result, I must spend more time to push our local, European and Japanese engineers in China to accelerate their innovation efforts," Ye said, adding that the company will continue to expand passenger car tire production capacity at its factories in Shanghai and Shenyang, Liaoning province, to meet the country's surging demand.