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What Chinese modernization means for multinationals eyeing new opportunities in China?

This undated photo shows a factory of Bosch at Sino-German Industrial Park in Shunyi District of Beijing, capital of China. (Sino-German Industrial Park/Handout via Xinhua)

Foreign enterprises have been encouraged to ride the waves of China's green transition, as the country underlines harmony between humanity and nature in modernization, while aiming to boost green and low-carbon industries.

Clerc, CEO of Maersk, said the company has noted China's increased efforts on sustainable development and its move to a low-carbon economy.

"We are very glad that we are working with strong Chinese partners to make the transition to green energy, and we believe in China's great potential in producing green methanol," Clerc said. Maersk is looking for green methanol to replace traditional fuel on its vessels.

Overseas firms are also eyeing business growth generated from China's efforts to spur innovation, which remains at the heart of China's modernization drive.

In late February, China rolled out a plan for the overall layout of the country's digital development, which has drawn the interest of Qualcomm CEO Cristiano Amon.

"The rapid rise of digital transformation has made it a powerful engine for economic growth," said Amon, adding that China has sped up the pace of digitalization, which brings vast opportunities to various parties, including Qualcomm.

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