Shanghai, November 2, 2014 - Ulrich Spiesshofer, CEO of ABB, a leading power and automation technology group, today shared his insights and advice for improving the business environment in the China (Shanghai) Pilot Free Trade Zone (PFTZ) at the 26th International Business Leaders Advisory Council (IBLAC) in Shanghai. Spiesshofer explained how the PFTZ could incentivize more businesses to adopt Shanghai as a center for global operations, as ABB did for its global robotics business in 2006.
During the meeting, Spiesshofer welcomed the establishment of the PFTZ as well as China's commitment to further promote the internationalization of its business environment. In his report "Accelerate Institutional Innovation and Reforms, and Improve the Business Environment: Catalysing Institutional Innovation in the Shanghai Free Trade Zone", Spiesshofer cited best practices from Hong Kong and Singapore and listed success factors that could contribute to the success of the PFTZ, including the digitalization of administrative processes, diversification of business incentives and the deployment of global advocacy campaigns in attracting more investment.
"When ABB set up a global R&D and manufacturing center for robotics in Shanghai in 2006, it was an unprecedented move for a foreign multinational, but it turned out to be a smart one because ABB's robotic business has since enjoyed rapid growth in China. Now Shanghai is playing a more important role in global business, especially as China pilots market reforms in the PFTZ," said Spiesshofer. "For more than 20 years, Shanghai has been at the center of ABB's strategy in China and we look forward to building on this success, as we take ABB's development in China to the next level."
Since 2005, ABB executives have been actively participating in the annual meetings of IBLAC in Shanghai to share insights and ideas for Shanghai's sustainable growth, and the company has played a big part in the development of the Shanghai's and China's infrastructure development.
To support China's goals in economic restructuring and industrial upgrading, ABB has developed and provided smart technologies to help customers lower energy consumption, enhance productivity and product quality, minimize environmental footprint, and jointly realize intelligent upgrading. In Shanghai, ABB's technologies are widely used in landmark infrastructure:
- ABB technologies help supply stable, reliable power to the Shanghai World Expo Park, the SOHO Bund project, GDS's data center and subway stations along Shanghai metro lines;
- ABB provides key power components for the Xiangjiaba-Shanghai ±800kV UHVDC transmission link, which carries enough hydroelectric power from the Xiangjiaba dam in Sichuan to meet more than 20% of Shanghai's annual power consumption needs;
- ABB's power supply and traction systems ensure the safe and reliable operation of Beijing-Shanghai High Speed Railway, one of the world's busiest high-speed railway lines.
Shanghai is an important base for ABB's development in China. In 1994, ABB established its first JV in Shanghai. Today, the company has more than 4,800 employees across one main branch and six local companies in Shanghai, including ABB Shanghai Transformer Co., Ltd., ABB Shanghai Motors Co., Ltd., ABB Engineering (Shanghai), Ltd., ABB Electrical Machines Ltd., Baldor Electric (Shanghai) Co., Ltd. and the newly established ABB Shanghai Free Trade Zone Industrial Co., Ltd.
In addition, ten ABB global business centers, including the ABB robotics global R&D center and the global manufacturing base for its marine propulsion system are all located in Shanghai. These centers strongly support the development of ABB's global business and also contribute to the development of the high-end equipment manufacturing industry in Shanghai.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 145,000 people. ABB has a full range of business activities in China, including R&D, manufacturing, sales and services, with 19,000 employees, 37 local companies, and an extensive sales and service network across 109 cities.
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