Opportunities for all as China pursues eco-friendly growth
- By Fu Jing
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E-mail China Daily, March 15, 2016
Online shopping and business in China are among the strongest in the world; they also help link China with the rest of the world. Internet and mobile activities are contributing to economic growth and helping restructure China's economy. Although China's economic slowdown has created pressure on some sectors, Internet-based businesses are thriving and expanding, and helped the service sector contribute more than half of the GDP last year for the first time.
The Chinese government is expediting the process of reducing overcapacity in some sectors using the Internet-Plus approach. China has also vowed to pursue innovation-led economic growth to reduce the pressure on the environment. The country is already the leading investor in environment-friendly technologies, in a bid to adapt to and combat climate change.
All these measures could offer solutions to the economic woes of investors and businesses across the world. For the next five years, even longer, investors and businesses both at home and abroad should attach importance to China's economic restructuring, and capitalize on the green opportunities it offers to boost economic cooperation.
In fact, green cooperation should be the new mantra for businesses in China and abroad when it comes to economic deals. Perhaps their cooperation can focus on Internet-based businesses. China should also cooperate with the EU and other Western economies on 5G technology, to make online communication more convenient and faster.
More importantly, China's education, medical care, tourism, cultural and sports sectors are expected to expand rapidly, offering Chinese and EU businesses new opportunities to cash in on. And EU-based companies, with their experience and know-how, can greatly benefit from these opportunities.
As China restructures its economy and upgrades its industries, it will take a greener path to economic development and thus create more opportunities for domestic as well as foreign enterprises.
The author is deputy editor of China Daily European Edition.
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