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The 2017 Fortune Global Forum is held in Guangzhou on Dec. 6. (People’s Daily Online/Wang Tianle)

The 2017 Fortune Global Forum kicked off on Wednesday, attracting 388 enterprises participating in the event, 152 of which are from the Fortune Global 500.

The three-day event marks the fifth Fortune Global Forum held in China, presenting a chance for heads of the world’s largest companies—the Fortune Global 500—to actively engage with world leaders on the forefront of international commerce.

According to Xinhua News Agency, Chinese President Xi Jinping said in a congratulatory letter to the event that China will create more opportunities and make a greater contribution for the world.

The forum has also been hailed by many entrepreneurs, who believe that China is an ideal place for foreign investment. Jack Ma, the founder and executive chairman of the Internet giant Alibaba Group, encouraged more foreign companies to start their business in China.

“China needs foreign investment, but I hope that when foreign companies enter the Chinese market, they would not only bring capital, but also their talents and technology. China is a big market, but I hope our foreign counterparts can have more patience for it,” said Ma.

Timothy Cook, chief executive officer of Apple, accepted an interview at the Forum.

Timothy Cook, the chief executive officer of Apple Inc., also praised China as an investment destination, who noted that China is now enjoying more openness, creativeness, and modernity compared to that in the 90s, and has become a leading global power.

“There is confusion about China. Some may think that foreign companies come to China because of the low labor cost, but I think the reason is because of the scale,” said Cook, who added that China’s technology development and talent education should be given credit for the country’s rise.