More Foreign Firms Adopt Strategy to Serve World With Innovations in China
Miao Qi
DATE:  Nov 08 2022
/ SOURCE:  Yicai
More Foreign Firms Adopt Strategy to Serve World With Innovations in China More Foreign Firms Adopt Strategy to Serve World With Innovations in China

(Yicai Global) Nov. 8 -- As China’s research and development capabilities continue to grow, an increasing number of multinational companies are opting to release their latest products developed in China at the China International Import Expo. This reflects their strategy to develop in China and serve the world.

Hundreds of new products, technologies and services, ranging from consumer goods to medical and industrial equipment, are on display at this year’s 5th CIIE. A total of 1,700 new products, technologies and services were released in the past four expos, data showed.

Ai Zhouping, president of Heraeus Greater China, told Yicai Global that with the continuous enhancement of China’s R&D capabilities, foreign companies will be deeply bound to Chinese high-end customers and supply chains, forming strategic cooperation to serve global clients.

American corporation Honeywell, which is attending the Shanghai fair for the fifth straight year, has displayed more than 60 innovative products and solutions this year, with two products making their debuts in China.

The CIIE has become an integrated platform for the company to showcase technologies, debut innovative products, expand investment in China and develop partnerships, Yu Feng, president of Honeywell China, told Yicai Global.

Honeywell’s strategy in China is ‘oriental serves oriental, oriental serves the world,’ achieving localization of advanced overseas technologies and introducing advanced local technologies to the world, Yu said.

“Nearly 20 percent of Chinese employees at Honeywell are R&D personnel. Every year, a lot of new products are developed by Chinese R&D teams. Several R&D teams in China are also the company’s unique teams in the world,” Yu added.

China is transforming from a world factory and a world market to a world innovation center, Barbara Frei, global executive vice president of French multinational Schneider Electric, said.

Schneider Electric has a product designed for the Chinese market, developed by the Chinese team and launched in China, but it also sells well in the global market, with exports doubling every year, she pointed out to Yicai Global.

Karcher set up a global R&D center in Suzhou, eastern Jiangsu province, in June to develop the German cleaning manufacturer’s products and technologies for the Chinese market and the world.

A multifunctional steam cleaner developed and made in China has become a star product sold globally, Tang Xiaodong, president of Karcher Greater China, revealed.

Meanwhile, Maximilian Foerst, president and chief executive officer of Zeiss Greater China, told Yicai Global that “Zeiss’ global new energy vehicle business is based in Shanghai, where major innovations will serve both the Chinese market and the international market.”

Heraeus’ Ai noted that China’s continued opening-up means that the company can continue to apply its latest global R&D results to a huge market with more than 1 billion people. Heraeus also has more opportunities to bring latest innovations in China to the international market.

“In the photovoltaic and electric car technology sectors, for example, China is at the forefront of the world. We are willing to and able to accompany our Chinese customers to overseas markets to achieve more success,” Ai said.

Editors: Tang Shihua, Peter Thomas

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Keywords:   Global Debut,New Product,R&D,Changing Landscape,CIIE