Preface
At the beginning of 2020，the sudden outbreak of the COVID-19 wreaked havoc on China. Since the outbreak，under the strong leadership of President Xi Jinping，the whole country has worked together to fight the epidemic.
In the face of COVID-19，many multinational corporations swiftly mobilized and donated goods and money to support China in fighting the epidemic，showing solidarity with Wuhan and China in various ways.
Multinational corporation is a term adopted by the UN Economic and Social Council（ECOSOC）in the early 1970s，referring primarily to large enterprises in developed countries. In China they are often referred to as “foreign-invested enterprises”. Headquartered in their home country，they produce and operate globally through foreign direct investment and establishing subsidiaries or branches. As China opened the door through reform and opening up in 1978，multinational corporations gradually began to enter the Chinese market. Over the past 40 years，multinational corporations have participated in and witnessed China’s astounding economic achievement，and have also contributed significantly to China’s economic take-off.
On October 19，2019，the research institute of the Ministry of Commerce CAITEC released the Multinationals In China：40 Years of Investment（hereinafter referred to as the “Report”），which systematically reviewed the history of multinational corporations in China over the past 40 years and summarized the achievements of multinational corporations in China and their contribution to China’s economic growth. The report also shows China’s determination and confidence in opening to the world for mutual benefit and win-win results.
According to the Report，by the end of 2018，a total of 961，000 foreign-invested enterprises had been established in China，utilizing US$2.1 trillion in foreign investment. It has become one of the world’s largest host country for foreign investment. The Report believes that foreign investment has promoted China’s reform and opening up，i.e.，the renewal of ideas and concepts，the transformation of government functions and the reform of the macroeconomic management system，and played an important role in establishing a new open economic system. The Report also pointed out that the fast-growing Chinese market has provided opportunities for the global strategy and growth of multinational companies.
As an important force in economic globalization，multinational companies with their economic prowess dominate the development trend of the global economy and guide the formation of a new world economic order. In the process of economic globalization，on the one hand，the economies of countries and regions are intertwined，influencing each other on the way towards a unified global market；on the other hand，global rules that regulate economic behaviors are set up worldwide and based on this，a global mechanism for economic operation. Therefore，economic globalization has become a globally unified market mechanism in which production factors cross national borders，flow freely around the world and complement each other. Multinational corporations are not only an important driving force for economic globalization，but also a solid foundation of the whole globalization process.
Along with economic globalization，after 40 years，multinational companies have gone through different stages：from being maladapted to gradually adapting，and then to active integration and national treatment. Investment has increased in size and the destinations spread from coastal areas to further inland. It is a unique feature in China’s reform and opening-up process. Multinational corporations are not only participants，witnesses，contributors，and beneficiaries in China’s reform and opening up，but also partners who walk along with China，help each other and share with each other for a better future.
While the beginning of 2020 when multinational corporations joined China in pursuing high-quality economic development goals was defined by the COVID-19 pandemic，they were nevertheless not only undeterred，but have displayed even greater confidence that China’s economic fundamentals and long-term upward trend will not change due to the epidemic，nor will the comprehensive competitive advantages that created good conditions for foreign investment.
On February 15，2020，Greg Gilligan，Chairman of American Chamber of Commerce in China，expressed in an exclusive interview with China News Network his appreciation of the Chinese government’s rapid response and decisive measures in the face of the epidemic. As of 15th February，the total value of materials and cash donated by member companies of AmCham reached close to 460 million yuan，as they wanted to prove with action that they are also part of Chinese society. Mr. Gilligan also mentioned that from the feedback of the executives of member companies of AmCham，US enterprises in China remain confident in the Chinese economy. They are more interested in solving existing problems and how to adjust production and operation plans.
Dr. Herbert Diess，Chairman of Volkswagen Group，said through Sina Weibo，China Central Television and the website of the Chinese Embassy in Germany，“Currently looking at China，I see that millions of Chinese joining forces to win the battle against the coronavirus. Though the situation is very serious，I am deeply convinced that the Chinese people will overcome it with solidarity and dignity. The Volkswagen will always family stand close alongside the people of China.”
In an interview with China International Television，Merlin Swire，Chairman of Swire Pacific Ltd，said on February 26，2020，“I have full confidence that under the able leadership of the central government，and with the support of tens of thousands of brave and hardworking medical professionals and volunteers，China will overcome this challenge”，“Swire has been operating in China for more than 150 years and has long been deeply rooted in China. In this battle against the epidemic，Swire will fight alongside China.”
On March 1，2020，Steve Molenkov，CEO of Qualcomm，said through Xinhuanet.com，“We know that the Chinese people are persevering and we are confident in their ability to overcome current challenges. Being a staunch partner deeply rooted in China，Qualcomm is fully confident that China’s economy will maintain a long-term upward trend.”
In the face of the epidemic，many multinational companies actively donated money and materials and supported the fight against the epidemic. They also gather their suggestions from different perspectives of observation，different levels of thinking and experience in different industries. As the first compilation of report of a multinational company in 40 years，it aims to sort out，suggest，enlighten，inspire，and also demonstrate corporate social responsibility of multinational companies as well as their genuine concern for China and firm confidence in working with China.
The compilation is divided into two parts. The first part，“Brainstorm for wisdom-gathing”，presents multinational companies’ thoughts，ideas and suggestions in fighting against COVID-19；the second part，“Actions for Fighting Epidemic”，demonstrates their care and dedication during the times of the epidemic. The compilation is presented both in Chinese and English.
Throughout the process of collecting，writing，arranging and editing the reports，we have received strong support from many multinational companies，and here we would like to express to them our gratitude.
The COVID-19 that swept through the world in 2020 caused the global economy to grind to a halt. Its impact exceeded the global financial crisis in 2008 and even the global “Great Depression” of 1929-1933. The world is experiencing changes unseen in a century，and with the great changes，the world economy has once again reached a crossroads in the history of human development. Human beings live together in a “global village”，the destiny of all countries being closely related，and therefore building a community with a shared future for mankind is the only right direction in the development and progress of human society. We hope that through this compilation，we can inspire thinking，build consensus，crystallize human wisdom and courage so as to turn crises into opportunities and create a new era of sustainable development and win-win cooperation for all.
Xinyu Li，Ph.D
Executive Editor-in-Chief Vice President & Secretary General of CICPMC
19 May 2020
Beijing