Ulrich Spiesshofer, chief executive officer of ABB Group, speaks before ringing the closing bell at the New York Stock Exchange in New York, the United States, July 13, 2018. The President of Swiss industrial technology giant ABB Group said Friday that the company greatly values the Chinese market at a time when China is pushing forward its reform and opening-up policy. (Xinhua/Wang Ying)
NEW YORK, July 13 (Xinhua) -- The President of Swiss industrial technology giant ABB Group said Friday that the company greatly values the Chinese market at a time when China is pushing forward its reform and opening-up policy.
Ulrich Spiesshofer, chief executive officer of ABB Group, said in an interview with Xinhua before ringing the closing bell at the New York Stock Exchange, that he is impressed with the clarity and reliability of China's long-term planning.
He said that he welcomes the Chinese government's strong focus on compliance, integrity and intellectual property protection.
The ABB Group is a witness, participant and beneficiary of China's 40 years of reform and opening-up, and is now actively contributing to the country's development agenda.
"As China transforms, we have transformed ABB in China," Spiesshofer said.
In 2017, China was ABB's second-largest market worldwide, with over 90 percent of the sales from locally made products, solutions and services.
"It is very important that we have a level playing field in China. We welcome the opening of the market, and we welcome the opportunity to compete on fair terms," Spiesshofer said.
He added that the role of future manufacturing in China, or more specifically, the role that artificial intelligence will play in China is significant.
With great growth momentum, he said that he sees "a prosperous China in front of us."
ABB's relationship with China dates back to 1907, when it delivered a steam boiler to the country. After decades of development, the company's business activities in China include research and development, manufacturing, sales and services with 40 local branches and 17,000 employees located in 142 cities.
