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"China has huge market potential for imported medicine, and the demand is growing fast for generic drugs, but pharmaceutical market competition is becoming increasingly fierce," he said.

"China has done remarkably well," said Wei Sun Christianson, chief executive of Morgan Stanley China and co-chief executive of Morgan Stanley Asia Pacific, at the Fortune China Most Powerful Women summit in Shanghai on Dec 10.

"China is one of SABIC's core strategic markets, and we are committed as a partner to helping elevate China's sustainable development and inclusive growth, while reinforcing SABIC's development prospects here," he said, adding that SABIC is committed to contributing to economic exchanges between the two sides through continuous investment in China.

"China is a key partner, from which we can say that 99 percent of the experiences have been very positive," he said.

"China is our second-largest market, after the United States. Danfoss has benefited from the increasing demand in infrastructure, food supply, energy efficiency, and climate-friendly solutions as the country's urbanization and green transformation goes on," said Kjeld Stark, president of Danfoss China.