China's innovation draws ever more investment

Multinational companies will continue to increase their investment in China, propelled by its thriving new quality productive forces, innovation and the steady advance of a unified national market, foreign business executives say.

- By ZHONG NAN

The country is ushering in a new era of innovation-driven growth and is accelerating the creation of a unified national market as global investors place growing emphasis on areas such as digital transformation, supply chain optimisation, high-end manufacturing, customised innovation and sustainable growth.

Building a unified national market is essential to unleashing domestic demand potential, facilitating the efficient flow of goods and factors, improving resource allocation and fully harnessing the market's industrial and demand advantages, the Research Office of the State Council said.

Attracted by the promising growth potential of China's unified national market and the country’s robust innovation capabilities, the Swiss technology company ABB Group says it plans to strengthen its presence in China, the world’s largest robotics market, through a series of artificial intelligence-driven innovations and new product launches in the coming years.

“As part of our ‘local for local’ strategy we will broaden our product portfolio to better serve the fast-changing demands of China's mid-market robotics segment, as well as emerging sectors including electronics, healthcare, logistics and construction,” said Marc Segura, president of ABB's robotics division.