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New opportunities lie in new normal

(Xinhua) Updated: 2016-03-24 13:47

China, as the largest market for goods such as automobiles, cosmetics, food and large-screen displays, provides numerous business opportunities for global investors, Gabor said.

"China is full of opportunities under the backdrop of 'new normal,' ranging from restructuring to urbanization, but investors should be prepared and invest in fields that need upgrading," said Zhang Shuyu, a researcher with the University of International Business and Economics.

Douglas Oberhelman, chairman and CEO of US construction and mining equipment producer Caterpillar, said over the weekend that China's ongoing transition to slower but better growth will benefit multinationals.

No economy the size of China can sustain double-digit growth, and the transition to 6.5-7 percent growth is "very healthy," he said.

Oberhelman spoke highly of the 13th Five-Year Plan released last week, saying that "what's contained in that plan is very appropriate for the current times."

According to him, China's pursuit of cleaner air will create business opportunities for Caterpillar, as it can produce a broad range of environment-friendly machines.

Despite the current economic slowdown, China is still growing twice as fast as the global average, he said, adding that a growth rate of 6.5-7 percent for the next five years will require more investment.

IMF deputy managing director Zhu Min told Xinhua in January that China's economic transformation was not fully understood.

Zhu suggested that the Chinese government increase transparency and launch publicity campaigns to let the world know about the changes underway in the country's economy.

Besides, the outside world needs to better understand the problems China has encountered in the process of its economic transformation.

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