Joe Ngai, chairman of McKinsey & Company in Greater China spoke to CGTN Europe in Davos. He discussed China's economic strategy in 2026, highlighting positive signals in consumer demand and innovation as key growth drivers. The new economy sectors such as AI, EVs, and biotech are experiencing rapid growth, making it crucial for businesses to utilize technology and align with growing sectors. Despite China's historical openness to foreign businesses, the challenge lies in the intense competition within the market. Ngai emphasizes that success in China's competitive market equips businesses for success in the global market.