Foreign firms raise China bets on wider opening-up

BEIJING — From manufacturing expansion to innovation-driven upgrades, foreign-invested firms are scaling up their investment and positioning themselves for new opportunities in China, as the country pledges even wider, high-standard opening-up in the coming years.

Recently, Swire Coca-Cola Ltd, a bottler of Coca-Cola, commenced operations at a factory in the central Chinese city of Zhengzhou in Henan province. With an investment of more than 900 million yuan ($126.5 million), the plant covers about 13 hectares and has an annual production capacity exceeding 1 million metric tons, serving nearly 100 million consumers in Central China.

The new facility is part of the company's efforts to expand its production capacity, backed by its 12 billion yuan decade-long investment plan in the Chinese mainland, which was first announced in 2023. The company is set to start building a new production base in Hainan province at the end of this year, while also preparing to launch two additional factories in Jiangsu province and Guangdong province in 2026.

Noting the Chinese market as an important engine driving Swire Coca-Cola's stable operations, Karen So, the company's CEO, said the new Zhengzhou factory represents the company's long-term commitment to staying rooted in the Chinese market and contributing to high-quality development.

Swire Coca-Cola exemplifies the broader story of foreign companies' robust performance in China during the 14th Five-Year Plan period (2021-25). Official data show that foreign direct investment into China totaled 4.7 trillion yuan from 2021 to May 2025, with foreign-invested enterprises now accounting for one-third of the country's total imports and exports, contributing one-quarter of its industrial output.

Building on this solid foundation, foreign companies are now positioning themselves for the next phase of growth, as China pledges to promote high-standard opening-up and create new horizons for mutually beneficial cooperation during the 15th Five-Year Plan period (2026-30), according to a communique issued on Oct 23 following the fourth plenary session of the 20th Central Committee of the Communist Party of China.

Commerce Minister Wang Wentao has said that the country would work to expand market access and areas of openness in the next five years and foster a transparent, stable, and predictable institutional environment to create new advantages in attracting foreign investment.

Against the backdrop of continued openness, multinational companies are not only expanding their manufacturing capacity in China, but also boosting their research and development investments. They are attracted by the country's dynamic innovation landscape, world-class talent pool, and strong industrial and supply chains.

Bosch Automotive Products (Suzhou) Co Ltd, a subsidiary of German multinational giant Bosch Group in the eastern Chinese city of Suzhou in Jiangsu province, launched an intelligent driving control innovation project in the Suzhou Industrial Park in August. With a planned investment of 10 billion yuan over the next five years, the project will focus on the R&D of full-stack intelligent assisted driving solutions and smart cockpit hardware and software.

This investment represents another major commitment by Bosch to Suzhou, building on its 2023 establishment of an R&D and manufacturing base in the city for core components of new energy vehicles and automated driving.

Stephan Lampel, a senior executive of Bosch Mobility China, said that China is leading the development of intelligent driving and smart cockpit technologies, and that Bosch aims to leverage Suzhou's talent pool, innovation capabilities and industrial ecosystem to accelerate its presence in intelligent mobility.

Multinational Schneider Electric is also bolstering its R&D footprint in China. In September, the company launched its EcoFit LV Innovation Center China in Shanghai, which specializes in the adaptation and upgrading of low-voltage distribution components. The company has so far established an R&D team of over 1,500 people in Shanghai.

Noting Shanghai and the Yangtze River Delta region as a hub for innovation, leading technologies, and open collaboration, Jean-Pascal Tricoire, chairman of Schneider Electric, said during a recent visit to Shanghai that the company will "join hands with more Chinese partners in accelerating technological innovation and industrial transition, co-creating a greener, smarter, and more prosperous future."

Xinhua