EYEING China’s increasingly booming new sectors, representatives from multinational companies shed light on their new investment projects and businesses in the country at the Boao Forum for Asia Annual Conference 2022, which concluded Friday.

According to a report released by the forum, new forms of businesses, represented by the digital economy, is booming in the country. China’s digital economy currently is the second largest in the world.

“China has become one of Qualcomm’s largest markets and innovation bases globally,” said Qian Kun, senior vice president of Qualcomm. He added that China’s digital economy achieved rapid growth, represented by 5G, artificial intelligence, the Internet of Things, and VR/AR. Qualcomm will continue to integrate with China’s industry to jointly create a new model of the digital economy.

Hannah Qiu, China CEO of PayPal, said that the online payment giant has been operating in China for more than a year. Its main business is to help Chinese enterprises better sell their products to overseas markets.

“We believe that China’s higher level of opening up will help us get more Chinese market share and play a more significant role in cross-border payment and communication between China’s capital market and overseas capital markets,” Qiu said.

Leif Johansson, chairman of AstraZeneca, said that they would continue to uphold the concept of innovation, continuously increase investment in China, and deepen cooperation with local enterprises.(Xinhua)