British Business Leader Says China's Innovations Will Lead Future Industries
Boao (ANTARA) - China has become a global leader in robotics and green energy, sectors that do not stand alone but form the foundational layer for the future economy, revealed Jack Perry, chairman of the 48 Group.
In an interview session with Xinhua on Tuesday (24/3), on the sidelines of the Annual Conference of the Boao Forum for Asia (BFA) held in Hainan Province, southern China, Perry described the pace of technological and innovative development in China over the past few years as truly extraordinary.
He stated that China’s strategy regarding high-quality development and new quality productive forces targets high-end manufacturing, promotes technology-based growth, and elevates China’s position in the global value chain.
From previously lagging in high-tech sectors to emerging as a global leader, China has recorded extraordinary progress and is reshaping the global innovation landscape, said Perry.
China’s rapid technological advancement has attracted global investors who recognise its long-term stability and growth potential, said the British entrepreneur.
“China is building world-class capabilities across various industries. For those seeking to create cross-generational wealth, Mainland China remains a primary destination for long-term investment.”
In addition, China’s openness has entered a new phase. It is no longer just about Chinese brands going global, but also about global brands being developed and launched from China, he added.
The concept of “made in China” is changing to “created in China, cultivated in China, sold by China”, thereby giving the country stronger control over end markets and global supply chains, explained Perry.
Among high-tech sectors, Perry emphasised the importance of AI regulation and expressed strong support for the Global AI Governance Initiative proposed by China.
Although AI transcends national borders, issues such as data, privacy, digital assets, and financial applications remain highly sensitive, he said.
The world must work together to establish AI rules, said Perry, while emphasising the importance of dialogue and shared guidelines to prevent misuse, crime, and uncontrolled AI development.
Perry also highlighted the increasing centrality of Asia, describing it as a driving force in the global economy. According to him, Asia’s geographical advantages, industrial clusters, and dynamic markets are attracting global attention and investment.
He called for Asia to continue strengthening economic ties, learning from ASEAN integration, and utilising mechanisms such as the Regional Comprehensive Economic Partnership (RCEP) to reduce trade barriers and mitigate the impacts of protectionism and tariff increases.
“No country can develop alone in this uncertain world. Regional and multilateral cooperation is indispensable,” he said.
As a staunch defender of multilateralism, China provides stability and confidence to the global economy, Perry continued.
China is always open and supports shared growth, said Perry. Although frictions between major countries are likely to occur, the economic cycle will continue to develop, and cooperation will ultimately prevail, he added.
Looking ahead, Perry expressed continued optimism about international cooperation and China’s development.
“China’s innovation and openness will continue to lead future industries … Only by rejecting win-lose thinking, enhancing dialogue, and cooperating, can the international community overcome geopolitical tensions and build a fairer, more inclusive, and stable global economic order,” he stated.