STORY: Foreign companies confident about China's economic outlook 
SHOOTING TIME: Recent footage
DATELINE: July 17, 2024
LENGTH: 00:02:04
LOCATION: SHANGHAI, China
CATEGORY: ECONOMY

SHOTLIST:
1. various of Shanghai
2. SOUNDBITE 1 (English): OLE GERDAU, Chief operating officer, Deutsche Bank of China
3. SOUNDBITE 2 (English): MAXIMILIAN FOERST, President and CEO, ZEISS Greater China
4. SOUNDBITE 3 (English): STEPHAN GRATZIANI, President of Herbalife
5. SOUNDBITE 4 (Chinese): XUE WEI, Managing Director of Northeast Asia, Beiersdorf AG

STORYLINE:

China's economy grew by 5 percent in the first half of this year, signaling a steady recovery despite challenges at home and abroad, and reaffirming its role as a vital engine for global economic growth.

Meanwhile, the International Monetary Fund (IMF) on Tuesday revised China's 2024 economic growth up to 5 percent in an update to its World Economic Outlook (WEO), from the 4.6-percent forecast in April.

Foreign companies have also voiced strong confidence in China's economic outlook.

SOUNDBITE 1 (English): OLE GERDAU, Chief operating officer, Deutsche Bank of China
"We've increased our GDP growth forecast for the year by a half percentage point to 5.2 percent. This will largely come through a rebound in exports and also accelerated fiscal spending. Because of the base effect, because of the size of the Chinese economy being significantly larger, it will still be contributing the largest proportion to the global economic growth."

SOUNDBITE 2 (English): MAXIMILIAN FOERST, President and CEO, ZEISS Greater China
"I am extremely positive on basically the general trajectory, because the investments are being done in the right place. We are now seeing China transferring from a quantity-driven economy to more of a quality and innovation."

SOUNDBITE 3 (English): STEPHAN GRATZIANI, President of Herbalife
"I've seen and worked in many, many different countries. I just believe the way that China undertakes its strategy for development, and it's a long-term strategy, and it's a very well-implemented strategy, that when you look at a country like this, that already is a global superpower, that it's really positioned to become probably one of the most important players in the world."

SOUNDBITE 4 (Chinese): XUE WEI, Managing Director of Northeast Asia, Beiersdorf AG
"China's economy is transforming, presenting numerous investment opportunities. We see a booming market in China, and we are full of confidence and expectation for the future. We see huge investment opportunities in various sectors, including green energy, new technologies and digital products. Investing in China is investing in the future."

Xinhua News Agency correspondents reporting from Shanghai, China.
(XHTV)