Best investment opportunities are in China: Wal-Mart chairman

China is now the place for investments thanks to deepening reforms and opening-up, and Guangzhou, as the economic engine of South China, is set to capitalize, according to experts at the Fortune Global Forum.

Guangzhou is home to over 920 projects being undertaken by some 300 of the Fortune Global 500 enterprises, and that looks set to increase following speeches given at the forum by senior officers of multinationals who frequently refer to "China opportunities".

According to Greg Penner, chairman of American multinational retailer Wal-Mart, the best investment opportunities are in China. Penner said a company must have a good business ecosystem and good partners if it wants to succeed in China and so Wal-Mart chose to work with Chinese e-commerce retailer JD.com.

He noted that Wal-Mart has a special platform on JD.com which allows customers to order anything that is contained in the company's physical stores.

Many other corporations have taken advantage of the business opportunities in China, launching a range of key projects such as the Cisco Smart City and GE Bio Island in Guangzhou.

"We have seen a great promising future in China," said Rachel Duan, president and CEO of GE China, noting that many leading enterprises are planning to invest in the country due to its advanced industrial chain.

"I was born in China and over the past decades, China has experienced unparalleled great changes and GE too is upgrading its business layout." 

Charles Robbins, chief executive officer of Canada-based IT and networking solutions provider Cisco expressed similar views, saying that he has been to China 18 times and that innovations happen every day in the country, especially in Guangzhou. 

Senior officers of multinational companies hold a discussion at a sub-session of the 2017 Fortune Global Forum on Dec 7. [Photo/southcn.com]