Execs sanguine on China's manufacturing future

Editor's Note: With strong policy support, unremitting technological innovation and industrial upgrading, China's economic recovery continued to gather steam in the third quarter, with its GDP expanding by 4.9 percent from a year earlier, leading to a 5.2-percent year-on-year growth in the first three quarters. China Daily presents a series of Q&As with top multinational corporation executives, discussing their perspectives on the Chinese economy and how they will position future business in China.

Q1 Given the complex current global economic and geopolitical situations, how do you position the Chinese market in your overall global business radar? What's your outlook for China's economy and your company's operations in the country for this year and next?

GEORGE XU: China is the largest single-country market for Airbus commercial aircraft and represents over 20 percent of Airbus' annual deliveries in recent years. Airbus regards China as a long-term strategic partner and contributes to the high-quality development of the Chinese aviation industry. We have a very positive outlook for China's economy as the recovery is gathering great momentum. China will become an important driving force in global economic performance as well. For Airbus, 2023 and beyond are full of opportunities to continue developing business and cooperation in China.

PEDRONI: China is one of the leading new energy vehicle markets in the world. Bridgestone sees more opportunities for market innovation and development in China. The group will continue to consolidate and optimize its core tire business, gain insight into and cater to the increasingly diversified needs of consumers, accelerate the iteration of wheel products, improve after-sales service, coordinate channels and resources, and integrate innovative technologies to meet the needs of the next generation of car owners in China.

XU YANG: China is our second home market and a key contributor to our global business success. The strong alignment between China's development priorities and our key businesses makes Danfoss well-positioned to support the achievement of China's dual-carbon goals while unleashing significant market potential.

Danfoss looks at the long term and we are confident in the green transformation in China. In 2023, though there are headwinds, we still see great opportunities in China for decarbonization and electrification.

LOH: The Chinese market is a key contributor to our global performance. China is advancing a broader agenda of opening-up and its national strategic planning, such as urban renewal, smart cities, digital transformation and green development, is consistent with the high-quality development goals of Otis. Against this backdrop, we expect to continue to grow our business in China, in both the new equipment and service segments. The Chinese market leads our service digitalization deployment. Our innovation, smart manufacturing and talent localization in China are important pillars of our global business.

FUKAISHI: The Chinese market is characterized by huge potential in both consumer and commercial markets. We hope that with the sustainable development of the Chinese market, Epson's business in China can maintain a high growth rate and a leading position in the market through attentive management.

We also hope to bring more environmentally friendly technology products and services to the global and Chinese communities, so people can enjoy technology while protecting the earth, benefiting future generations.