Marcos Troyo, President of the New Development Bank of the BRICS, said at the annual meeting of the World Economic Forum in Davos, Switzerland on the 25th that China's high-level opening up and the structural transformation of its economy have made China still the world's largest economy. one of the attractive foreign investment destinations.
The BRICS New Development Bank is an international financial institution co-sponsored by Brazil, Russia, India, China and South Africa. President Marcos Troyo said that China has a population of more than 1.4 billion and a huge economy. These factors are hugely attractive to foreign capital; but more importantly, China has always adhered to a high level of opening up, which has become an important factor in globalization. Promoter
Marcos Troyo, President of the BRICS New Development Bank: If one of the major players in the global economy is firmly open to globalization, I think that is a very positive message.
Marcos Troyo believes that China's level of opening to the outside world will continue to improve in an all-round way. He said that China's export-oriented economic model is changing, leading the world in many technology-intensive fields, and the proportion of R&D investment in GDP is rising. This structural shift in China's economic model will allow China to maintain its leadership in economic growth for years to come.
Marcos Troyo, President of the BRICS New Development Bank: China will continue to be one of the top two destinations for foreign direct investment for a long time to come. Even with changes in China's economic model there will be many opportunities to facilitate supply chains or value chains (connecting) with different countries around the world.
Marcos Troyo said that the current global value chain is being restructured, which will be accompanied by the change of production centers, R&D centers, etc. around the world. In this context, there will be many "decouplings" around the world, and many new "links" will appear, and new connections may appear in areas and fields that were not previously connected. The scale and resilience of the Chinese economy will enable China to become the center of many new value chains.
Marcos Troyo, President of the BRICS New Development Bank: This added value in the global industrial chain will be one of the most important magnets for attracting new investment to China and creating opportunities for emerging markets as a whole.
Source: CCTV
