Big name global manufacturers keen on 2023
Q3 China's top policymakers have pledged greater efforts to attract foreign capital, widen market access, promote further opening-up of modern service industries and ensure a level playing field for both domestic and foreign companies. In this context, what measures do you expect this year? Will you draw up new plans for investment, hiring and business expansion in China?
DING: We are encouraged that China's approach to foreign investment remains positive, with a steadily improved business environment and expanded foreign investor access. We look forward to continuing to be a part of China's even more open market. China is a strategically important long-term market for 3M.
In the first quarter, 3M will set up a $2.5 million thermal runaway barrier production line at its plant in Hefei, Anhui province, to supply more products for new energy vehicle producers in China. TRB material is used in batteries for electric vehicles and effectively enhances batteries' thermal management performance and reduces the risk of batteries overheating. Mass production in China will enable 3M to respond more quickly to growing demand in the local EV market.
YU: The government's policy of a more open, fair and transparent market for business operations sends a strong signal to the international business community that China is committed to opening to the outside world and welcoming MNCs' investment and development in China.
In fact, China is already Honeywell's second-largest single market and the company's largest growth market. We believe that the great potential of the Chinese market will be further released and will help bring about the continuous improvement of people-to-people exchanges, capital flows and technological innovation that will drive steady economic growth over the long run.
In 2023, we will further develop key verticals and invest in growth industries to meet increasing market demand for high-quality products and services in China.
Heinricht: We have built up close relations with local governments in the past years. Timely support from local authorities made it possible for us to build a factory at record speed. Recently, Schott Pharma announced plans to invest in production capacity for pharmaceutical cartridges in China.
During the current fiscal year 2023, Schott plans to increase its investments to 500 million euros ($542.5 million) globally and 55 million euros in China to continue organic growth. With a strengthened production network, we can continue to be a reliable partner for our customers in their search for the perfect solution and supply important specialty glass components and innovations for their products.
ZHANG: We pay close attention to the policies of the Chinese government for supporting the development of foreign companies in the Chinese market and attracting more foreign investment. Continuous optimization of the investment and business environment and deep implementation of the Foreign Investment Law will help create a better development environment for foreign enterprises.
Dassault Systemes will continue to expand its business in the Chinese market. In 2020, we moved our Asia-Pacific headquarters from Japan to Pudong, Shanghai. In recent years, we have been cooperating with local governments, such as Qingdao, Wuhan and Changchun, to establish innovation centers and help develop other local industries.
HOMMA: Panasonic is accelerating its investment in China and plans to invest 50 billion Japanese yen ($382 million) during the three years until 2024 to build 14 new sites in China. Nearly half of the sites have been completed and started operations.
By June 2023, Panasonic plans to move our Japanese rice cooker production line to Hangzhou, Zhejiang province.
