What business leaders are watching at CIIE: Part II
Rachel Duan, senior vice-president, GE, president & CEO, GE China
What are the highlights of your exhibits at the China International Import Expo? Are you launching any new products, technologies or solutions?
GE's booth covers 500 square meters at the High-end Intelligent Equipment Hall. Under the theme of "When Minds Meet Machines," the exhibition will display digital solutions and products across the power, aviation, renewable energy, oil and gas, healthcare, and technology advanced manufacturing sectors.
The booth will demonstrate how GE is serving the Chinese market in clean energy and affordable healthcare, supporting urbanization and Internet+ with its strong track record in both the digital and industrial sectors. It will also show how GE has supported the upgrading and transformation of China's economy.
In terms of deals, what do you expect from the CIIE? Whom are you targeting?
We are actively coordinating with our customers in different industries, across power, aviation, healthcare, oil and natural gas, to sign various contracts during CIIE.
Do you think the CIIE could eventually help drive the development or upgrade of the industry your company is in, and your company's strategy in China?
We believe that CIIE will help to drive the development and upgrading of the industries in which GE does business. By bringing the leading advanced manufacturing technologies, solutions, and practices from around the world to China, it will significantly push forward the progress of China's industrial transformation.
CIIE will also act as an accelerator for GE to fully deploy its China strategies of localization, partnership, and digitization. As the world's leading digital industrial company with a global footprint and depth of localized capabilities in China, GE is in a unique position to partner with our customers in their industrial transformations.
What's your view on China's pledge to further open up its markets to foreign companies? How would that benefit your business? Any specific examples?
Hosting CIIE is a significant move by the Chinese government to provide firm support to free trade, economic globalization, and actively open the Chinese market to the world. It facilitates strengthened economic cooperation and trade amongst countries and regions all over the world, pushing forward an open global economy.
GE's development in China benefits significantly from the reform and opening-up of the Chinese market. China's pledge to further open up its markets to foreign companies strengthens our determination to deepen our business in the Chinese market.
What is your forecast for China's economy in the next three years? What key issues will you be watching for?
Today, China is facing a host of growing market needs, as well as opportunities to drive new growth through innovation and domestic consumption. The demand for clean energy, affordable healthcare and mass transportation driven by urbanization all represent the mega-needs of China's future. This includes a power market that is expected to grow at an annual rate of nearly 5 percent until 2020, all while moving toward clean energy and natural gas; a healthcare market expected to grow as the number of people above 65 years will hit 170 million by 2020; and an air travel sector which is expected to make China the largest aviation market globally in terms of passenger flow within 10 to 15 years. Despite short-term volatility and China's transition to a "New Normal" in terms of economic growth, these demands will remain.
