Ming Wong
China’s sustained push for high-quality development, technological innovation and high-standard opening-up is expected to create fresh opportunities for multinational corporations, while reinforcing global confidence in the world’s second-largest economy amid rising external uncertainties, said a senior executive.
“We are very confident in the medium — and long-term prospects of the Chinese economy,” Ming Wong, vice-president of Cisco, said in an interview with China Daily during the recent China Development Forum 2026 in Beijing.
At a time of elevated global uncertainty, the certainty and clear policy direction offered by China are precisely what multinational companies value the most, he said.
Wong said that growing demand from foreign companies expanding in China — as well as from Chinese enterprises accelerating their global expansion — is creating broader room for growth in areas such as connectivity, digital infrastructure and cross-border support.
That trend, he said, aligns closely with Cisco’s long-standing strengths in networking and cybersecurity, and is expected to open up fresh opportunities for the company in China.
Wong said Cisco has maintained long-term investment in China and will continue to deepen its presence in the market.
“We have been investing in and deeply engaging with the Chinese market over the past three decades, and that commitment will not change,” Wong said, adding that Cisco will continue to step up investment in China.
Such commitment, he said, reflects China’s role not only as an important market for Cisco, but also as a key hub for the company’s research and development, supply chain operations and global services.
Cisco has established R&D centers, technology facilities, supply chain operations and a global service center in China, with its China R&D center ranking as the company’s third largest after those in the United States and India.
The outline of the 15th Five-Year Plan (2026-30) for national economic and social development calls for expanding two-way investment cooperation, fostering new strengths in attracting foreign investment, further shortening the negative list for foreign investment access and encouraging reinvestment by foreign-invested enterprises in China.
Highlighting China’s continued efforts to welcome foreign investment, Wong said the country has expanded opening-up and fostered a fairer, more open and transparent market environment, a direction it has upheld over the years.
He further noted that intense competition in the Chinese market should not be viewed as a disadvantage. Rather, it serves as an important force in driving innovation and strengthening growth momentum.
“We have never been afraid of competition. We grew up in a competitive environment, and it is competition that drives innovation and momentum,” Wong said.
Meanwhile, the convergence of artificial intelligence and digital transformation is opening up a new phase of opportunities for the company. “These two trends together will provide strong support for Cisco’s future growth prospects,” he said.
In Wong’s view, AI is reshaping demand for digital infrastructure. As the technology moves from concept exploration toward broader industrial application, the next phase will hinge less on computing power, but on whether enterprises can build stable and secure AI-ready foundations capable of supporting practical applications.
China is well-positioned for the next stage of AI development, thanks to its strong talent pool, comprehensive industrial system and rich range of application scenarios, Wong said.
From healthcare and logistics to manufacturing and finance, China’s diverse application scenarios are expected to provide fertile ground for the technology’s wider adoption, he added.
This view is also echoed by market analysts.
Xu Bin, head of research at UBS Securities, said 2026 could be a pivotal year for the large-scale adoption of AI agents in China, as the technology shifts from conversational interaction toward task execution across a widening range of business scenarios.
UBS remains positive about the outlook for faster adoption and expects continued evolution across the industry value chain, Xu added.
Looking ahead, Wong said he remains confident in China’s innovation prospects over the next five years and expects the country to deliver more original breakthroughs as its talent base, industrial capabilities and innovation ecosystem continue to strengthen.
zhangchenxu@chinadaily.com.cn
