In their three days of discussions, leaders of multinational companies attending the Fortune Globe Forum have shown very strong interest in the thriving Chinese market. The business heavyweights were optimistic about China's economy which has kept a strong growth momentum and provided a plenty of business opportunities for international investors against the backdrop of a world economic slowdown. One of the foreign investors' focus is China's fast-developing telecom market.
Statistics show the market is now already the world's second largest.
With full confidence in China's IT industry, participants at the forum held that the on-going economic slowdown in Europe and North America will not create too big an impact on the Chinese market because of its size and vitality. Therefore, they suggested to international technological companies that, in the next 10 to 20 years, the best way to avoid risks and guarantee profits is to transfer capital and technology to the Chinese market. Jorma Ollila, president and CEO of Nokia Corporation, told his audience that Nokia attaches great importance to the development of its China market. James C. Morgan, president and CEO of the US Applied Materials, predicted an increased demand for semi-conduct materials and a larger share of the Chinese market for his company. He said, as more and more of its customers are moving from Japan, the United States and other regions to China, Applied Materials will surely have a larger market in China.