Companies aim to explore limits of technology
Whirlpool Corp, a US home appliance maker, has pledged to bring more of its latest high-tech products to China to cater to the increasing middle-income group in the country, whose growth is set to be one of the global economic megatrends of the coming decades.
Given increased consumption and Chinese consumers' pursuit of a high-quality lifestyle, the appliance market has evolved to a stage where products need to be customized and smart, said Samuel Wu, president of Whirlpool Asia.
Considering the fact that China's home appliance market has been stable for a while and will see more rapid growth in the future, Whirlpool said it is dedicated to offering more products of quality and value to consumers, including kitchen appliances and washing machines.
It has been estimated that China's middle-income group will increase to 630 million people by 2022, almost double the current US population of 327 million, according to global management consultants McKinsey & Co.
Whirlpool has brought to the China International Import Expo its latest product range, the W Series, which will be launched in the Chinese and European markets simultaneously in 2019.
Wu said China's household appliance market holds tremendous opportunity for development, and Whirlpool will take advantage of its global technology and resources to push for continuous growth, with the focus on the high end of the market.
Jason Ai, vice-president of Whirlpool and president of Whirlpool China, said the company constantly aims to challenge perceptions and explore the limits of technology to empower people by freeing up their time.
"We believe that seeing things differently means sensing life differently, and we want consumers to make the most of their time and enjoy it at its best with our latest product series," he said.
The US appliance-maker says it will also invest more in research and development, after its China headquarters and global R&D center, located in East China's Anhui province, was put into operation last year.
As the living standards of Chinese residents have constantly risen in recent years, the middle-income group, together with their ever-growing purchasing capacity, has been driving companies to up their game in the country.
Many multinational corporations have brought their latest products to the CIIE to showcase their strength.
'Stick to innovation'
Home appliance manufacturer Bosch displayed its renowned German craftsmanship at the expo and said it hoped to showcase its innovations in the smart home sector to visitors from all over the world, but in particular to the Chinese market.
"Bosch has been delivering various products adapting to the needs of Chinese consumers," said Roland Gerke, chairman and president of BSH Home Appliances Holding (China) Co Ltd.
With the rapid development of intelligent technology, the smart home has become an industry trend, he said.
"With the trend of consumption upgrade in China, Bosch, a leader in the high-end sector, will continue to meet consumers' increasingly diverse needs in all aspects with innovative products and services," Gerke added.
Wu said President Xi Jinping's keynote speech at the opening ceremony of the CIIE provided momentum for the household appliance industry and multinational corporations in China.
CIIE is a good example and a signal that China is more and more open to the world and willing to participate more in global affairs, Wu said, adding that economic globalization is an irreversible trend.
"Without reform and opening-up all the prosperity today is impossible," he said.
"Xi's speech shores up confidence for the household appliance industry and for Whirlpool as well. We will continuously stick to innovation and step up industrial chain layout to come up with more products, customized and smart, with the focus on quality and value offered to the consumer."
