All countries should intensify cooperation to exploit the full potential of new technologies like artificial intelligence, and desist from protectionism, in order to facilitate economic growth, said business leaders on the sidelines of the World Intelligence Expo 2024, which concluded in Tianjin on Sunday.

Such calls for closer global cooperation also marked the "CEO: Grow with China" roundtable, held as part of the expo on Friday that saw participation of multinational corporations from sectors like technology, finance, medicine and energy.

The roundtable was jointly organized by China Daily, the Publicity Department of the Tianjin Municipal Committee of the Communist Party of China, and the Tianjin Industrial and Information Technology Bureau.

Peter Merker, director of the German Chamber of Commerce in China for Tianjin and CEO of Schlote Tianjin, firmly opposes sanctions on new technologies, and advocated enhanced international cooperation for mutual benefit.

Commenting on certain suppressive measures of some countries against the development of new technologies by other countries, he said: "If we look at history, these sanctions, do you know any that have succeeded? I haven't seen any.

"Sanctions are a tool that has significant side effects. For every 1,000 enemies killed, it also harms 800 of its own at the very least. It is lose-lose, not win-win."

The automotive industry strongly opposes tariff increases and sanctions, and most ordinary people share that view, he said.

Now, many Western governments are facing difficulties, so they use tariff increases and sanctions as leverage, but such a path is not good, he said. "We should extend a hand and say, 'cooperation would be better'."

Citing certain benefits brought about by AI and fintech applications like speedier banking services, Peter Jeng, vice-president of the UK Chinese Business Association, said applications of new technologies can reduce risk in overseas businesses for enterprises, and there is huge cooperation potential between Chinese and foreign companies in this regard.

Julian Mac-Cormac, regional director of Rolls-Royce Greater China, stressed the importance of supply chain cooperation between the company and its Chinese partners.

"It's very clear that alongside the investment in capacity, we've seen the introduction of greater automation, as well as the application of digital manufacturing techniques. And we see that in our supply chain in China today," he said.

MacCormac is also chair emeritus of the British Chamber of Commerce in China. "We have supplies across many different locations and China has been and is an important part of our supply chain," he said.

Gianni Di Giovanni, chairman of Eni China and state representative of the European Union Chamber of Commerce in China, said applications of intelligent technologies in areas like energy have brought benefits to humankind. In two to three years, he predicted, life will be changed dramatically with use of more affordable and available AI technologies.

Lan Jun, general manager of Agela & Phenomenex China, an operating company of Washington-based Danaher, also highlighted the importance of global cooperation during the event.

"'China Speed' will never go out of style. Over the last two decades, China has pioneered the manufacturing sector. Now, in the era of new technology, the country still takes a leading role. In the past four years, we have witnessed mounting investments in the country's artificial intelligence sector, and numerous investment opportunities await industry," he said.

"We see China as a fertile ground for innovation. Our development in China is also the result of continuous effort and innovation. Currently, Danaher has 14 research and development teams and nine manufacturing bases in China, including the Agela factory in Tianjin. These teams and bases play a crucial role in driving technological innovation, improving production efficiency and meeting customer needs.

"For Danaher, we have an '80/80 China Localization Goal', which aims for achieving that 80 percent of China market revenue are supported by our local factories; and 80 percent of the raw materials and components used in local factories are sourced domestically. By continuously deepening our cooperation with China, we hope to provide more advanced solutions to our customers and contribute to China's high-quality economic development and technological progress."

Zhou Lanxu, Zhong Nan and Zhuang Qiange contributed to this story.