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World Insights: Opportunities in China still appealing******
People visit the 4th China International Import Expo (CIIE) in east China's Shanghai, Nov. 5, 2021. (Xinhua/Li Xiang)。
by Xinhua writer Liu Yanan。
NEW YORK, Nov. 21 (Xinhua) -- The international business community continues its interest in opportunities in China, as the Asian country is committed to expanding opening-up and fostering a business environment that is market-orientated, law-based and up to international standards.。
Despite the COVID-19 pandemic and the disinformation campaign targeting China, international businesses have not lost sight of the soundness of and the long-term growth prospect for the Chinese market, said John Pang, a senior fellow with Bard College in New York.。
Last year saw record levels of foreign direct investment into China and the trend has continued this year, Pang told Xinhua in an interview via email on Thursday.。
"China is the most important driver for the sustainable, well-governed and inclusive growth of the global economy. No other country has so closely integrated social and environmental agenda with industrial policy to deliver on all three fronts," said Pang, who has worked on policy and strategy in government, business and civil society across East Asia.。
Foreign investors bought Chinese government bonds as a global reserve asset through most of the year 2021, Mehran Nakhjavani, a partner of emerging markets with the MRB Partners, told Xinhua at a virtual roundtable meeting.。
Executives from Honeywell, McDonald's, Boeing and a number of other U.S. companies recently underscored the importance of the Chinese market and its growth opportunities at their earnings conference calls for the third quarter.。
"China remains a critically important market for us and one where we have confidence in the long-term opportunity," said Kevin Ozan, executive vice president and chief financial officer with McDonald's late last month.。
"CAN'T AFFORD TO GET CHINA WRONG"
China's recent pledges to expand opening-up and build a well-defined business environment "are not empty words driven by short-term political cycles but a statement of fundamental policy, a carefully worded set of promises made against a long timeline," said Pang.。
The pledges are integrated with China's core domestic visions for common prosperity, which are supported by the aim of "ecological civilization," and a willingness to work in multilateral frameworks, including in areas of digital governance, according to Pang.。
International companies with a business model based on delivering real value will find unparalleled opportunities for growth in China, said Pang.。
"China is where the decisions are being made, the policies being coordinated, the costs being paid, to create the environmentally sustainable and socially inclusive economy that the world needs," Pang added.。
"The international business community cannot afford to get China wrong. As the current supply chain breakdown in the United States shows, we're tightly connected, and China is a very big cog in the machine of the global economy," Pang told Xinhua.。
Investors with a long-term horizon should invest in both China and the United States and gain exposure to the two largest and vastly different economies with different growth opportunities and sectoral trends, said Solita Marcelli, chief investment officer for the Americas at UBS Global Wealth Management.。
The U.S. and Chinese economies "are deeply linked and decoupling them would come at a considerable cost," she said. Enditem。
Ghana beats South Africa to qualify for African World Cup playoffs******
ACCRA, Nov. 15 (Xinhua) -- Ghana's dream of a return to the World Cup in Qatar next year is very alive following its 1-0 win over South Africa at the Cape Coast sports stadium on Sunday.。
The home team who needed to win to qualify for the African playoffs began the match well by piling pressure on the away team.。
The efforts of the Black Stars paid off as captain Andre Ayew expertly converted a penalty in the 33rd minute after Leicester City defender Daniel Amartey was fouled in the penalty box.。
The South Africans, who had not lost a match in the qualifiers, changed their game plan in the second half but a tactically disciplined and resolute Black Stars frustrated their efforts.。
With the win, Ghana tops Group G with 13 points and an additional goal advantage over South Africa who finished second with the same points.。
Ethiopia and Zimbabwe are third and fourth with five points and two points respectively.。
The playoffs among 10 countries to determine the five teams to represent Africa in Qatar is scheduled for March 2022. Enditem。
CHANGSHA, Oct. 24 (Xinhua) -- Talent has long been valued and respected in China. Many stories illustrate how people discovered and wooed "winged steeds," a phrase referring to people of great talent.
"San Gu Mao Lu," which means three visits to a thatched cottage, is among the most famous ones. It tells how Liu Bei, founder of the Shu state during the Three Kingdom Period (220-280), whole-heartedly invited renowned military strategist Zhuge Liang to assist him.
During Liu's first visit, Zhuge, who lived in seclusion, was not at home. Liu returned discouraged at a time without telegraphs and phones.
Soon Liu and his generals came again. But, again, they failed to see Zhuge. This time, Liu left a note expressing his intention.
Regardless of objections from his generals, Liu decided to visit Zhuge for the third time. This time, Zhuge was at home, but he was sleeping when Liu arrived.
Liu and his generals stood outside the house, waiting quietly for hours. When Zhuge woke up, he was moved by Liu's sincerity and agreed to serve as his military counselor. With the help of Zhuge, Liu finally founded the Shu state.
The idiom "San Gu Mao Lu" implies inviting someone to take up a task or position with sincerity and respect. The modern versions of this story are repeating about 1,800 years later. China has been fostering a culture of respecting talents and making great efforts to nurture and gather more skilled professionals amid its national rejuvenation drive.
In Changsha, the capital city of central China's Hunan Province, the human resources director Yu Bin finally hired an influential talent in the automobile mold industry after 15 years of continuous visits and invitations.
The Sunrise auto mold company Yu works with produces mainly molds and fixtures of large and medium-sized automobile covering parts. As products and techniques in this industry are updated and replaced frequently, management and technical talents are regarded as treasures.
"Taking 15 years to woo a talent is tortuous but beneficial for our company's long-term development," Yu said.
China now has many well-trained professionals who play an increasingly prominent role in the country's development. By the end of 2020, there were more than 200 million skilled workers and more than 50 million highly skilled workers in China.
"We have set up a talent mechanism in the company, aiming to train 60 to 100 skilled personnel in three batches every year," Yu said. "In the future, we plan to train and introduce more management and technical personnel, hoping to make them the biggest driving force for the company's development." ■