More than a market, China is a strategic cornerstone

Driven by China's rapid growth, demand for sustainable solutions and role as an innovation hub, China is not just a market for the company, but a global strategic cornerstone, said a senior executive of Trane Technologies.

"In terms of investment, China has been and continues to be a very important market for us, as well as an important innovation hub," said Carrie Ruddy, senior vice-president of Trane Technologies, a US-based climate control solutions provider.

Having been in China for about three decades, Trane Technologies currently operates one of the company's three global R&D centers, as well as four plants for manufacturing in the country.

According to Ruddy, the R&D center, or Asia-Pacific engineering and technology center in Shanghai and Taicang of Jiangsu province, allocates 25 percent and 30 percent of its resources and talents to support the Asia-Pacific market.

"We envision our Asia-Pacific R&D center in China continuing to serve as a vital global innovation hub. Leveraging our robust R&D capabilities and innovative prowess, we aim to lead breakthroughs in high-efficiency, low-carbon, and intelligent solutions. This will enable us to provide leading innovative products and solutions for the Asia-Pacific market and beyond," said Ruddy.

"The Chinese market, representing nearly half of Trane Technologies' Asia-Pacific business, holds immense potential. We will fully leverage China's advantages in talent, technological innovation, advanced manufacturing, the rise of strategic emerging industries and domestic demand," said Ruddy.

Ruddy expects to make operations in China a base to expand throughout the Asia-Pacific region, driving sustainable growth for the company.

According to her, China has made substantial progress in reducing carbon and significant contributions to global climate governance. To date, Trane Technologies Asia-Pacific, with China at its core, has achieved a carbon reduction of 51.36 million tons, representing 32.7 percent of the company's total global reduction.

"Moving forward, we hope to continue collaborating with our Chinese partners to promote green practices and contribute to the green development of China's heating ventilation air conditioning (HVAC) industry, thereby supporting China in achieving its dual carbon goals," she added.