Honeywell goes big on digital

Rapid digitalization adopted by various industries as well as at the ordinary citizen level in China is not just a challenge but a big opportunity for companies such as Honeywell International Inc, according to Shane Tedjarati, its president for "Global High Growth Regions", which includes China.

The US-based manufacturing and technology conglomerate's local head makes this point by recalling his personal experience of living and working in China. When he steps out of home, his pocket is always empty, he said.

"Everything is paid for electronically, even buying an egg from a lady in the street and tipping a doorman is conducted through a cell phone."