Global investors and companies are looking forward to riding the wave of China’s burgeoning high-tech sector as China’s economic growth and technological advancements have opened a world of opportunities, said an analyst from the United Arab Emirates (UAE) following the just-concluded third plenary session of the 20th Central Committee of the Communist Party of China (CPC).
The CPC Central Committee held the session in Beijing from Monday to Thursday and adopted a resolution on further deepening reform comprehensively to advance Chinese modernization.
In an interview with the China Global Television Network (CGTN), Jameel Ahmad, chief analyst at GTC Group, a global broker of financial derivatives, said with the Chinese economy focusing more on technology and high-end manufacturing, it will bring boons to foreign companies.
“We’ve seen a lot of progress and a lot of evolution right now in the Chinese economy. While maybe before you look to China as an economy that would produce low-cost goods that can be shifted overseas and so forth. While if you look at it more now that the structure of the Chinese economy, there is more focus on tech and high manufacturing jobs. And this suggests a lot about how China’s economy is going to continue to evolve and in some ways try to compete with the U.S. when it comes to a major technology power of the world, similar to Silicon Valley. I think that’s why investors are looking for over the longer term and one of the advantages as well is that following the conclusion of this meeting, it is expected that major executives from top companies globally will visit China for more talks about how they can help contribute to these targets,” the analyst said.