China-Korea Cooperation Targets Green Transformation and Digital Health at CIFIT

At the recent 25th China International Fair for Investment and Trade (CIFIT) held in Xiamen, Park Sun-kyung, chief representative of the Korea International Trade Association's Shanghai office, emphasized the emerging potential for collaboration between China and Korea, particularly in the realms of green transformation and digital health. Park noted that significant advancements in China’s regulatory environment, including enhanced transparency and rule of law, have bolstered foreign companies' confidence, encouraging them to strengthen their presence in the Chinese market.

CIFIT, renowned as a global investment promotion platform, attracted a diverse array of businesses and institutions from around the world, with many participants acknowledging the ongoing improvements in China's business landscape. These enhancements not only encompass market access and policy transparency but also highlight the vast cooperative opportunities in burgeoning sectors such as low-carbon energy and healthcare.

Park pointed to China’s foreign investment law as a foundational element of its regulatory framework, along with a progressively shortened negative list that facilitates easier market entry for foreign investors. In the Shanghai Free Trade Zone, the timeline for introducing new cosmetic and medical device products has dramatically decreased from over six months to just one to two months, reflecting a significant improvement in market responsiveness.

Ferenc Fasi, head of China affairs at Hungary's Inpark Group, expressed admiration for China's strides in intellectual property protection and market openness, noting that the number of investment projects has surged, creating ample opportunities for businesses. The healthcare sector, in particular, is experiencing a surge in cross-border partnerships, with many companies recognizing China as a pivotal hub for cooperation. Lee Hyung-shin, legal representative of Korea’s Raphas, highlighted the compatibility of China’s market and capital resources with Korea’s R&D strengths, projecting substantial collaborative potential in pharmaceuticals and medical devices.

Yin Fang, general manager of Korea’s JK Medical Group, praised recent institutional innovations, particularly the 7-6 policy in the Beidaihe New District, which has lowered entry barriers for foreign medical enterprises. He expressed optimism about leveraging China’s market growth to facilitate breakthroughs in anti-aging and regenerative medicine projects alongside Chinese partners.

The global push for carbon neutrality is also propelling international investment into China’s green energy sector. Steve Pakiry, marketing manager at France’s Hyper Wind, remarked on China’s leadership in wind power technology, calling it a crucial market for international firms. Meanwhile, Minervas focuses on smart transportation and decarbonization, recognizing the opportunities presented by China’s rapid advancements in artificial intelligence and big data.

As guests reflected on the evolving landscape, many observed a shift in how foreign investment is viewed in China—not merely as a financial transaction but as an integration into the local ecosystem. Park noted that Korean companies are increasingly investing in innovation tailored to the Chinese market, particularly in sectors such as hydrogen energy, energy storage, and carbon capture.

Overall, the sentiment at CIFIT was clear: the substantial size of China's market, coupled with its improving institutional frameworks and vibrant culture of innovation, is driving deeper engagement from international firms. Investing in China is now seen as a collaborative journey towards mutual growth and sustainable development, a perspective echoed by numerous foreign investors present at the event.