Calls for an enabling business environment
A discussion at the China International Import Expo gathered government officials, representatives from international organizations, business leaders, experts and scholars to share insights into the role of governments as well as the perspectives of multinationals in fostering an open, fair, stable and transparent business environment.
Tuesday's "Opening-up, Regulation and Business Environment: the Role of Governments and Perspectives of Multinationals" session was part of the second Hongqiao International Economic Forums.
An enabling business environment can stimulate and attract international investment, and help promote economic transformation and upgrading, participants said.
"Predictability, transparency and credibility are an important soft part of a good business environment, and infrastructure, facilities and logistics are of significance as the hard part," said Jin Liqun, president and chairman of the Asian Infrastructure Investment Bank.
"We want to make sure the environment is safe and sound when we make investments, and ensure our investment in those countries is safe," said Jin.
Participants also talked about the challenges confronting an enabling business environment.
"Governments face a dilemma between the long-term benefits to the economy and short-term needs," said Jin. "There are a lot of issues such as labor facing governments and any government which is capable of handling the long term and short term issue would be more successful."
Rachel Duan, president and cCEO of GE Global, said variation in terms of implementation of rules and regulations was a challenge.
Emma Walmsley, CEO of GlaxoSmithKline, said listening to the voices of local customers was important.
"Although there is a relentless river of globalization, the reality is that customers are local, and we highlight the demands of local consumers," she said.