MNCs applaud Henan's efforts in opening-up

Multinational corporations will further expand their presence and investment in Henan province and participate in the province's high-quality development, given its huge market potential and robust industrial development prospects amid China's high-standard opening-up, global business leaders and officials said.

They made the remarks at the 2024 Cooperation and Exchange Conference between Henan Province and Multinational Corporations, which brought together nearly 200 MNCs in Zhengzhou, capital of Henan, on Wednesday.

Tesla's Global Vice-President Tao Lin said China's high-standard opening-up brings new opportunities for MNCs, and she firmly believes that the relationship between the companies and the Chinese market should be one of value co-creation and win-win cooperation.

"Tesla's success in China is fundamentally tied to the success of the entire new energy vehicle industry. We need to grow together with all other participants to create greater development space for the industry," Tao said.

Henan boasts a significant population advantage and strong consumer power, and Tesla has set up 11 stores in the province since the company started its presence in Zhengzhou in 2018, she said.

As Henan's auto industry is undergoing a transformation toward high-end, intelligent and green development, Tesla is willing to increase its investment and deepen cooperation and communication with all parties to support modernization of the province's auto sector system, she added.

Mu Yankui, president of Yihai Kerry Arawana Group, highlighted Henan's unique resources and market environment for grain and oil food processing enterprises as a populous region and a major grain-producing area.

Mu said the company began investing in Henan around 2000, starting with a small oil-pressing factory. Today, its presence in the province has expanded to four cities, with an annual output value of nearly 20 billion yuan ($2.85 billion).

"Chinese consumers' health awareness is shifting from 'eating enough' to 'eating well' and further to 'eating healthily'. This trend has created new opportunities for grain and oil food processing enterprises to adjust their structure," said Mu, adding that his company has developed various kinds of functional foods and looks forward to starting production in Henan as soon as possible.

Walid Farghal, director-general of Annual Investment Meeting (AIM) Congress and secretary-general of AIM Foundation, said the United Arab Emirates and China have established a strong partnership in various fields over the years, and this cooperation has reached new heights under the Belt and Road Initiative.

Farghal said the UAE firmly supports Henan entrepreneurs' expanding their businesses to the global stage, especially in green manufacturing, renewable energy and sustainable technologies.

"The UAE will support Henan enterprises in entering the dynamic markets of regions including the Middle East and Africa."

Dominic McAllister, Britain's consul-general in Wuhan, said the cooperation between British enterprises and Henan goes back a long way, and he looks forward to learning more about the province's sustainable industrial development and is keen to explore further synergies with the United Kingdom, especially in the field of green technologies.

"China is the largest manufacturer in the world and has set its own medium- and long-term goals of reaching peak carbon before 2030 and carbon neutrality before 2060. The UK is keen to work with China to achieve these ambitious goals," McAllister said, adding that the hydrogen-powered manufacturing facility in Jiaozuo, Henan, jointly built by the UK's Logan Energy and Jiaozuo-based Henan Lansing, is a model for green collaboration between the two countries.

Zhang Yuxuan, Asia president of Logan Energy, said his company will bring its advanced technologies and rich experience to Henan, to develop new technical solutions and products that can serve the province's hydrogen energy sector.

Forty-six investment and trade cooperation projects worth 33.58 billion yuan and nine framework agreements were signed during the conference. These projects involve various fields such as new materials, new energy, equipment manufacturing, electronic information, modern foodstuffs and cultural tourism.

Qi Xin contributed to this story.