Business / Economy

Foreign firms alter plans for Chinese market

By Tang Zhihao in Xiamen ( Updated: 2015-09-10 14:23

The altering economic conditions in China are forcing multinational companies to adjust their investment focus. Schneider Electric, the French energy management solution provider, said it would pay more attention to China's Belt and Road Initiative, urbanization, and Made in China 2025 strategy to better serve clients.

"We will follow China's economic development steps and participate in China's economic construction actively under the new normal economic conditions," said Luo Yao, government affairs director of Schneider Electric.

Luo spoke at the Presentations of Multinational Corporations Development Prospects in China 2015, in Xiamen, on Tuesday.

The event attracted more than 20 multinational business representatives including Schneider Electric, Tesla Motors, Dell Sanofi and Fujifilm Investment who all shared their development plans with participants.

Luo said Schneider implemented a new five-year development plan to put customers at the center of business and better meet their changing demands in China.

Tesla, the US new-energy vehicle maker, said it will spare no efforts to help China achieve sustainable transport development and improve performance in five areas including technology innovation, security enhancement, and charging post construction.

"Our mission in China is to help local consumers have a better understanding about new-energy vehicles and support China's new-energy car development to ease energy and environmental pressure," said Tao Lin, general manager of Tesla China's Foreign Affairs Office.

Operating in China since 2014, Tesla's Model S owners have traveled more than 45 million kilometers in China saving a total of 5.43 million liters of fuel oil, according to Tao.

The company plans to install more charging posts for the convenience of Tesla customers. It will also cooperate with local auto parts makers and whole vehicle makers to accelerate new-energy automobile development.

Facing increasing medical demand in the Chinese market, pharmaceutical manufacturing giant Sanofi said it would make efforts to improve China's innovation environment, introduce more premium medicine to consumers, and train more professionals.

"We actively collaborate with China's thriving research and development ecosystem by forging valuable partnerships with local top scientists and scientific institutions to accelerate the introduction of global innovative solutions to China," said Wang Jinsong, head of Sanofi China R&D.

Dell, the US personal computer and technology solution provider, also upgraded its development strategy in China by introducing a new plan called "Dell 4.0". Li Yadan, vice-director of external affairs at Dell China, said the plan makes Dell more localized to capture consumers' demand.

"In the past, foreign companies invested in China to capture more market share. Now, we have to be engaged in the Chinese market. We have to be in China for China," said Li.

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