"The government work report this year is quite encouraging. First I found NPC and CPPCC sessions this year stressed the issues of people's livelihood, consumption and social stability. As for the specific measures, central government plans to invest a total of 293 billion yuan social security fund, 43.9 billion yuan more than the last year's level or up by 17.6 percent. Secondly, the pension system in rural areas has been put on the government agenda for the first time. The rural pension program aims to cover ten percent of the total rural population this year. Moreover, more jobs will be created for migrant workers and college graduates. These are structural changes worth paying attention to," said Ma Jun, Deutsch Bank chief economist.

China's economy registered an annual growth rate of nine percent in 2008, contributing 20 percent to the world's economic growth. "If China achieves an eight percent economic increase when the world suffers negative growth, China will contribute over 40 percent to the world's growth," added Ma.

"Return to China" also becomes a key word for international investment. Jonathan Anderson, an economist at UBS noted that "return to China" should be a key for profit in 2009. He was confident that China could possibly avoid economic slowdown and recession. Global investors will turn to China while many countries suffer from a severe economic downturn.

Citibank Group believes that China's economy will see an eight percent economic growth thanks to the generous four trillion yuan stimulus package. Huang Yiping, chief Asia Economist of Citigroup said, "we are confident about the eight percent growth because of the government's will and capability. People will realize that the future of China's economy will be the brightest in the world."

Multinationals confident about China's revitalization

"Now China is the center for manufacturing and is moving towards an important hi-tech hub. Western countries have moved their business focus to China over the past ten years. People began focusing on the US 30 years ago, and now they turn to China. With regard to the ongoing financial meltdown, people are confident that China can lead the world in weathering the economic recession," said Frits Litjens, partner with PricewaterhouseCoopers on May 5.

PricewaterhouseCoopers said in its survey that China is the first choice for investment in Asia, and the huge market has attracted multinationals to set up headquarters here. The results show more than 33 percent of multinationals surveyed have established headquarters in China; 78 percent of people surveyed chose China as destination for personnel dispatch; overseas returned personnel will be a top choice for multinationals in China.

Brice Koch, president of ABB North Asia, chairman and president of ABB China said that financial downturn brought new opportunities for low cost countries like China. ABB will invest more in China and put more efforts in recruitment and training. The four trillion yuan stimulus package will help China maintain a good momentum of strong economic growth and bring great opportunities for multinationals. ABB hopes to take part in China's economic construction.

Multinationals confident about China's market

China's economic situation and investment are issues that multinationals care much about. Richard Hausmann, president of Siemens China said that Siemens is fully confident about the Chinese market and hopes to contribute to the healthy development of the Chinese economy.

Huasmann said Siemens poured another 1.35 billion yuan for environmentally friendly industries in China. For the next year, their total investment in China will reach 11.35 billion yuan, and 40 percent will be used for developing energy-saving industries.

Vincent Cheng, CPPPCC member and chairman of HSBC Asia Pacific said that China now enjoys the best economy in the world and he was fully confident about the sustainable economic development in China. HSBC will pour more investment into the Chinese mainland and expand the loan size for infrastructure construction.

(People's Daily Online March 11, 2009)