China
Exploring Opportunities for Foreign Companies in China’s Emerging and High-Tech Industries
China’s emerging industries offer significant opportunities for foreign investors through supportive policies and high growth potential. Key sectors include biopharmaceuticals, AI, and advanced technologies, driven by innovation-led initiatives to enhance global competitiveness and foster technological self-sufficiency.
China’s emerging industries present a plethora of new opportunities for foreign investors and companies. Highlighted as key to securing China’s future economic prosperity, these industries are bolstered by support and incentive policies, while harboring huge growth potential. We outline opportunities across five emerging industries in China.
China’s drive to develop new and emerging technologies is presenting a host of new opportunities for foreign investors and companies. This drive is anchored in its shift towards an innovation-led growth model, recently represented by concepts such as new quality productive forces (NQPFs), new-type industrialization, and “future industries”.
Central to China’s economic agenda since 2023, NQPFs prioritize the development of cutting-edge technologies, such as AI, robotics, biotechnology, and new energy and materials, to enhance global competitiveness and economic growth. Meanwhile, another core tenet of China’s growth strategy, the new-type industrialization initiative complements NQPFs by promoting advanced manufacturing, secure supply chains, and technological self-sufficiency, thereby positioning China as a leader in high-tech sectors. “Future industries“, meanwhile, focus on emerging technologies that are still in the early stages of development, such as quantum computing and 6G networks. Together, these strategies reflect China’s broader goal to drive economic growth through technological innovation and leadership in frontier industries.
Developing China’s biopharmaceutical industry is a strategic priority for the government. Recognized as a “strategic emerging industry” in the 14th Five-Year Plan (2021-2025), the biopharma sector is positioned for substantial growth, offering promising opportunities for foreign companies. According to the Qianzhan Industry Research Institute, the market size of China’s biopharmaceutical industry reached RMB 1.86 trillion (US$261.21 billion) in 2022, an 8.3 percent increase from the previous year. Between 2016 and 2020, the number of biotech science parks grew from 400 to 600, further reflecting government efforts to boost the sector.
Meanwhile, the 14th Five-Year Plan for Developing the Bio-Economy (2021-2025) outlines general development goals for the industry, such as increasing the contribution of the biopharmaceutical industry to GDP and enhancing the strategic position of biomedicine and related industries. The plan also emphasizes boosting R&D investment, increasing high-value patents, and strengthening innovation platforms.
Foreign companies are also encouraged to invest in the biopharmaceutical industry, with the sector listed in the 2022 Catalogue of Encouraged Industries for Foreign Investment (“2022 FI Encouraged Catalogue”) for multiple provinces, including Liaoning, Jilin, Heilongjiang, Henan, and Yunnan. This inclusion reflects the government’s desire to attract international expertise and capital to bolster domestic capabilities. Moreover, the government provides attractive incentive policies, such as a reduced 15 percent corporate income tax (CIT) rate for biopharmaceutical companies operating in certain development zones, including the Lingang New Area in Shanghai and the Nansha Economic Zone in Guangzhou.
China’s AI industry presents significant opportunities for foreign companies, fueled by strong government commitment, a rapidly growing market, and policies encouraging private and foreign investment. The Chinese government has prioritized AI as a key driver of innovation and is actively encouraging the integration of AI technologies across a variety of sectors, such as healthcare, education, finance, and urban management.
| This article was first published by China Briefing , which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in China, Hong Kong, Vietnam, Singapore, and India . Readers may write to info@dezshira.com for more support. |
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Business
China’s Travel Surge: Expanded Visa Exemptions Enhance Tourism and Business Prospects, Improving Access for Travelers and Strengthening Global Connectivity – Travel And Tour World
China has improved travel access by expanding visa exemptions, attracting millions of international visitors and fostering cultural exchanges, while enhancing global connectivity and positively shifting perceptions of the country.
The Shift in China’s Travel Landscape
China is experiencing a travel boom driven by a significant reduction in visa restrictions. Starting December 1, 2023, travelers from 38 countries, including major European nations, can visit visa-free for up to 30 days. This change reflects China’s commitment to enhance global mobility and revitalize its tourism industry post-pandemic. As a result, international arrivals increased to over 8.1 million by the third quarter of 2024, marking a 48.8% rise from the previous year.
Exploring Beyond Traditional Destinations
The new access has prompted travelers to seek immersive experiences, venturing beyond iconic sites like the Forbidden City. Tourists increasingly explore local cultures and markets, enhancing their understanding of daily life in China. Guides have adapted, offering tours that include cultural hotspots and local culinary experiences, thereby enriching the overall visitor journey and promoting authentic engagement.
Broader Implications for Global Connectivity
China’s visa-free initiatives foster greater international connectivity and cooperation in trade. As foreign travelers find it easier to engage with Chinese businesses, reciprocal visa easings may follow globally. The improved perceptions of safety and hospitality, highlighted through social media, contribute to a renewed interest in China’s diverse cultural landscape and its potential as a primary travel destination.
China
China-Denmark Trade and Investment: Key Developments and Emerging Opportunities
China’s investments in Denmark enhance collaboration in renewable energy, green technology, and digital infrastructure, aligning with both nations’ sustainable development goals. Their partnership, solidified by joint programs, underscores mutual economic interests and complementary strengths in green innovation and manufacturing.
As both countries share a commitment to sustainable development, China’s increasing investments in Denmark are driving innovation in renewable energy, green technology, and digital infrastructure. This partnership is further strengthened by Denmark’s expertise in wind energy and environmental solutions, aligning well with China’s goals to transition to a greener and more digitally advanced economy.
The growing trade and investment relationship between China and Denmark not only reflects mutual economic interests but also highlights the complementary strengths of each nation. Denmark’s high-tech manufacturing, environmental engineering, and green energy solutions are vital to meeting China’s evolving demands, while China’s large-scale market and industrial capacity offer vast opportunities for Danish enterprises. Together, these nations are paving the way for continued progress in sustainability, technological innovation, and economic growth.
In 2017, the two countries took a further step to solidify their relationship by establishing a Joint Work Programme for 2017-2020. The program acted as a blueprint for bilateral cooperation, encouraging strategic dialogues and joint ventures between the two nations in key areas such as trade, investment, environmental sustainability, and technology
The partnership was further reinforced in November 2021, when the Foreign Ministers of China and Denmark announced the commitment to a new phase of cooperation through the Green China-Denmark Joint Work Programme. The agreement emphasizes the acceleration of green technologies, renewable energy, positioning Denmark’s expertise in clean energy and green innovation as a crucial asset in China’s drive toward a greener economy.
Over the past five years, China’s exports to Denmark have shown consistent growth, further strengthening the economic ties between the two nations. This trend underscores their mutual commitment to expanding commercial relations and unlocking the potential for deeper cooperation.
China’s growing importance to Denmark, both as a market and as a supplier of production inputs, is evident in the economic integration over the last three decades. Today, China is Denmark’s fourth-largest export market, after the United States, Germany, and Sweden.
| This article was first published by China Briefing , which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in China, Hong Kong, Vietnam, Singapore, and India . Readers may write to info@dezshira.com for more support. |
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China
Joe Biden in Africa: US president has ignored the continent for his entire term – why he’s visiting Angola
Joe Biden, having largely overlooked Africa during his presidency, is visiting Angola to address key issues and strengthen diplomatic ties, signaling a renewed focus on the continent.
Joe Biden in Africa: US president has ignored the continent for his entire term – why he’s visiting Angola
This article is republished from The Conversation under a Creative Commons license. Read the original article.
- China’s Travel Surge: Expanded Visa Exemptions Enhance Tourism and Business Prospects, Improving Access for Travelers and Strengthening Global Connectivity – Travel And Tour World
- China-Denmark Trade and Investment: Key Developments and Emerging Opportunities
- Joe Biden in Africa: US president has ignored the continent for his entire term – why he’s visiting Angola
- HSBC to Scale Back China Credit Card Operations Amid Expansion Challenges – Reuters
- Implications of Chinese Tech Companies’ Global Reach for AI Governance Worldwide
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