The first National Foreign Businessman Assembly is slated to start be held on Jan 22 in Beijing, which aims to facilitate foreign firms companies and to play their role in boosting China's economic growth and industrial upgrading.
It will gather together executives from companies on the Fortune 500 list and other multinationals, and Chinese government officials and think tank research fellows.
So far, about 100 multinationals and 30 international brands have confirmed their attendance, according to the organizer.
Sang Baichuan, professor with University of International Business and Economics, said foreign companies operating in China should adjust their strategies, as environment both at home and abroad has undergone profound changes.
"China has shifted from high-speed growth to high-quality development. So foreign businesses should also change its expansion plan that highlights only 'quantity' to emphasizes both 'quantity and quality'," Sang said.
He added that foreign investment should avoid creating excess capacity in China, as the country's economic structure has been changing and competition intensifying.
Original link:https://www.chinadaily.com.cn/a/201812/13/WS5c11cb90a310eff303290cf4_2.html
