The three-day Fortune Global Forum 2017 in Guangzhou is now drawing to a close, yet the heated discussion on "Openness and Innovation: Shaping the Global Economy" continues.
In a congratulatory letter to the forum 2017 on Dec. 6, Chinese President Xi Jinping said China would develop the open economy to a higher level, promote the Belt and Road Initiative, and push for a new pattern of all-round opening up.
Guangzhou, a millennia-old commercial city which has always been open and innovative, is now taking the opportunity of holding the forum here to build a new platform for international exchanges between China and the rest of the world. The city, with its openness and innovation, contributes with Chinese wisdom and Guangzhou's experience to the globalization trends of innovative revolution, inclusive cooperation and sustainable development.
"Innovation is the soul of enterprise development," said Li Wenmei, president of Wondfo Biotech Co., Ltd. in a recent interview.
Wondfo invests 10 percent of its annual sales in R&D innovation, and brings in vigorously top talents from both home and abroad. With its globalization planning, the company has developed from a local private company into a fast-developing international company, who is now selling to more than 120 countries and regions, with sales in the United States dating back to 2008. Wondfo, which has been undergoing transformation and upgrading in line with the city's strategy of industrial upgrading, is now developing in the innovation-driven track with intelligent manufacturing. Wandfo, is just an example of innovation and openness of many enterprises in Guangdong.
Innovation coincides with openness. Numerous cases in Guangzhou demonstrate that openness and innovation are the primary source of progress and the driving force of economic development. Guangzhou, a window of Guangdong and the frontier of China's opening-up and reform, has been now at the foreland of developing an open economy of higher standards.