Siemens Global Executive Vice President Xiao Song: China is a Key Link in the Global Industry and Supply Chain, Deep | World | Global
"China is the only country in the world that has all industrial categories in the United Nations industrial classification. Thanks to its advantages such as a complete industrial system and huge market space, China is a key link in the global industrial and supply chain, and is crucial for the resilience, safety, and stability of the industrial and supply chain." Xiao Song, Global Executive Vice President and Chairman, President, and CEO of Siemens China, recently stated in a written interview with Economic Daily.
As the world's second largest economy, the largest manufacturing country, and a major trading partner of over 140 countries and regions, China has deeply integrated with the world economy and become an indispensable part of the global industrial and supply chains. Xiao Song said, "It is not realistic to 'decouple and disconnect' from China, which is not beneficial for any country or enterprise."
Xiao Song stated that Siemens was one of the earliest multinational companies to participate in China's modernization process. In recent years, Siemens has continuously increased its investment in the Chinese market and deeply integrated into the Chinese industrial and supply chain system.
In June 2022, Siemens' world's first native digital factory was officially put into operation in Nanjing; In July 2022, Siemens established the Asia Pacific headquarters of the Digital Industry Group's motion control business in Nanjing, and established its Shenzhen R&D Innovation Center for the Digital Industry Group's motion control business in Shenzhen; In October 2022, Siemens officially upgraded its electrical products headquarters in Suzhou to its headquarters in China and East Asia; In June 2023, Siemens invested 1.1 billion yuan to expand the Chengdu Digital Chemical Plant
Xiao Song stated that these series of measures are beneficial practices for Siemens to continuously strengthen its localized value chain and support high-quality development of the Chinese economy. The stable and efficient supply chain system in the Chinese market also plays an important supporting role in the development of Siemens' global business.
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What is the attractiveness of the Chinese market to foreign investment? Xiao Song believes that a series of measures taken by China, including expanding the field of foreign investment access, optimizing foreign investment access rules, and issuing the "Several Policy Measures on Promoting the Expansion, Stability, and Quality of Foreign Investment with a Focus on the Manufacturing Industry," have made foreign-funded enterprises like Siemens feel China's determination to continue opening up to the outside world and have high expectations for the company's development prospects in China. "China also has a sound industrial system, profound talent reserves, as well as rich innovative application scenarios and market space, which have laid a good foundation for our development in China," said Xiao Song.
"We believe that the Chinese market has great potential and resilience," Xiao Song said, looking forward to China continuing to leverage its own advantages, creating a more open and inclusive business environment, continuously tapping into market potential, attracting more external high-end resources to accelerate their gathering in China, and injecting vigorous momentum into the high-quality development of the economy.
The picture shows Xiao Song, Global Executive Vice President and Chairman, President, and CEO of Siemens China.