Schneider Electric sees big opportunity for multinationals in China's transitioning market

"The success of the first three editions of the CIIE and the upcoming fourth edition fully demonstrate China's determination and actions to continue to open up and create a sound business environment," he said.

"China aims to build an open and equitable business environment, strengthen the protection of intellectual property rights and treat both domestic and foreign companies as equals, which gives Schneider Electric and other multinationals more confidence in China, and also provides a rich soil for Schneider Electric to establish its roots in China," Yin said.

The CIIE also demonstrates how China manages to pursue its economic and trade-related goals even in the context of pandemic prevention and control, which strengthens Schneider Electric's confidence in its long-term development in China, Yin said.

Schneider Electric has been increasing its investment in China in recent years. In the past five years, its investment in research and development (R&D) in China has increased by more than 15 percent annually. Today, China is Schneider Electric's second largest market in the world.

"Despite some uncertainties caused by the pandemic, Schneider Electric remains optimistic about its long-term market position in China. The country's new measures to open up its economy fully demonstrate China's inclusiveness, which provides further opportunities for collaboration, innovation and win-win cooperation with our Chinese partners," Yin said.