ADVANCING with a more localized development strategy, foreign firms are expanding investment in the Chinese market over a strong belief in the country’s future.

More than 100 senior leaders from U.S. companies under the delegation of the American Chamber of Commerce (AmCham) South China have demonstrated their interest in having a greater presence in China, as they attended the China International Fair for Investment and Trade (CIFIT) in the coastal city of Xiamen, Fujian Province, for the 17th consecutive year.

“We are here at the CIFIT to make sure that we have the avenues and ways of doing business with our friends in China,” said Harley Seyedin, president of AmCham South China.

A report released earlier this year by the chamber showed that multinationals have not withdrawn from the Chinese market on a large scale and they maintain a strong interest in investing in China. The report attributed this to the market’s growth potential and its relatively high return on investment.

As Seyedin noted, China has a market with lots of opportunities and room for cooperation.

Investing over US$1 billion in China in the past 30 years, U.S.-based global food processor OSI Group plans to keep improving its investment level and adapt the development strategy to the opportunities in China.

Louis Dreyfus Company, a French firm of agricultural goods, has positioned China as an investment focus in the future with an improved localization strategy.

As the world’s top automation technology provider, ABB has advanced from investing in China to taking root in China.

(Xinhua)