Restructure economy Upgrade industry
Reduce energy consumption Enhance productivity
Localize in China Join hands to innovate
China’s economic development has impressed the world since it kicked off the opening up and reform program in 1978. Its GDP grew by 10 percent on average annual basis. China is now the world’s largest exporter and manufacturer with the world’s top industrial output. It has become the world’s second largest economy.
Despite these achievements, China faces huge environmental pressure and resource constraint. Therefore, the government has set targets to restructure economy and upgrade industry. The country’s development model is now shifting from quantity-oriented extensive growth towards quality and productivity oriented growth. For such sectors as power and industry, infrastructure and transportation, the need to be restructured and upgraded is especially urgent.
China cannot totally copy established overseas growth model due to its unique development approach. It should start from itself to innovate and seek breakthroughs.
ABB is willing to support China to solve constraints in resources, human capital, land and funding through technological, management and business model innovation. The target is to lower energy consumption, enhance productivity and product quality, minimize the adverse impact to environment, and jointly realize intelligent upgrading!