China's newly adopted Foreign Investment Law represents progress, as it gives all businesses a clear operating environment, president of Merck China Allan Gabor said during an interview at the China Development Forum on Saturday.

"The foreign investment law is a great step forward. It gives us a clear operating environment which is good for all businesses not only international companies, so I think it is a good step forward," Gabor said.

Gabor recalled the great opportunities China has already brought to Merck, a Germany-based healthcare company operating in over 140 countries, and said it has been a wonderful experience to invest in China.

"We've been here 85 years and we plan to be here a lot longer in the future. It has a great operating environment. We see untapped market potential and with market access it's a great business investment," Gabor said.

Gabor's prediction for China's economic trend is upward and believes the country will continue to progress under the leadership of Chinese government.

He said the Chinese economy has been growing and progress is good for everyone who has confidence in China's commitment to the world economy.

Gabor was very excited about the achievements China has made and said China has developed a lot over the last 70 years. He added this was a miraculous transformation which Chinese people can be proud of.

"Today China is part of the innovation ecosystem. This is the next step for China. Everybody who works and lives in China can be very excited about participating in that," Gabor said.