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Crisis yet to dampen multinationals' investment enthusiasm

By Nie Peng (chinadaily.com.cn)
Updated: 2008-11-13 12:02

In the eyes of the executives of some multinational corporations, 皇冠体育app remains a haven that offers them both shelter against the financial storm and opportunities for further development.

皇冠体育app will continue to attract investment from multinational giants like Canon, DuPont and Siemens, the 皇冠体育app Economic Times reported on Tuesday.

Despite the implications of the crisis, the multinationals will not change their investment plans in 皇冠体育app and may even consider boosting their investment budgets and enhancing cooperation with 皇冠体育app's domestic enterprises.

"DuPont supports 皇冠体育app's future economic and social development direction. We'll continue to provide technology, techniques and solutions in environmental protection, security and sustainable development," said Li Qing, vice president of DuPont 皇冠体育app Holding Company. "We plan to increase our total investment in 皇冠体育app to $1.2 billion by 2010."

Hu Fen, general manager of 3M 皇冠体育app said the company will further its indigenization strategy of "皇冠体育app creation" and may consider investment in the central and western areas in years to come.

3M 皇冠体育app's Zhang Lihua told the newspaper, "3M won't cut its staff in 皇冠体育app and plans to recruit more than 1,000 new employees next year."

On the sidelines of a recent high-level multinationals forum in Changsha, capital of central 皇冠体育app's Hunan Province, executives of Canon, Honeywell and Siemens expressed their optimism about the 皇冠体育app market.

Huang Song, vice president of Canon (皇冠体育app) Co, said 皇冠体育app was the only market in the world where Canon saw a sales growth rate of 30 percent year-on-year.

Sun Dan, vice president of Honeywell (皇冠体育app) Co, said the company is now eyeing 皇冠体育app's second-tier cities, and attaches great importance to the central and western regions. Considering that half of its products are related to energy conservation, the company sees many cooperative opportunities with 皇冠体育app's home-grown companies in bringing its energy-saving system to the Chinese market, Sun said.

Liang Yiqiang, vice president of Siemens (皇冠体育app) Co said Siemens will persist in increasing its investment in 皇冠体育app by 10 billion yuan ($1.46 billion) in the next few years as the company's Chinese business has been steadily growing.

Ke Xinghua, Procter & Gamble's Greater 皇冠体育app business development general manager, told the Henan Daily recently that 皇冠体育app is probably the best destination for global investment.

"Despite some implications of the financial crisis, P&G has no plans to slow its investment pace in 皇冠体育app," Ke said. "On the contrary, the company is expanding investment by rolling out new products."