Shared bikes flood the city streets, diners pay for meals on their smartphones, electric cars whizz down the roads: in the rapidly shifting picture of China's new economy, foreign companies are not absent.
The sharing economy is taking off in China, so is its appeal to foreign investors. The country's top bike-sharing companies, Ofo and Mobike, have attracted investment from the United States, Japan, Singapore and elsewhere.
Some foreign firms see business opportunities come in an indirect way. One example is the US-funded Dow Chemical (China) Investment Company, which signed a memorandum of understanding with Mobike in May to help the latter develop lighter and more eco-friendly shared bikes.
In a move to tap deeper into China's internet economy, Amazon in June partnered with Migu, a China Mobile subsidiary with one of the country' s largest mobile reading platforms, to launch a new Kindle exclusively for Chinese readers.
International brands are doubling down on the market. Tesla has Asia's largest supercharger station in Beijing and plans to add over 300 supercharger stalls in the country this year, more than the combined increment of the past two years.
Official data also showed growing foreign interest in China's new economy. In the first half of 2017, foreign direct investment (FDI) into China's high-tech manufacturing and services rose 11.1 percent and 20.4 percent year-on-year, respectively.
Singapore investment firm Temasek Holdings wants to increase investment in China's new economy, said Wu Yibing, Temasek's joint head of China.
The transition of China's economy has brought about a number of very attractive sectors including high-tech, non-banking finance, life science and consumption, Wu said. (Source: Xinhua News)
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