Swiss-Swedish engineering group ABB will maintain its annual investment scale of $120 million in China as it sees huge potential from the nation's strong demand for industry upgrades.

"As a global leader in automation and power, ABB has a strong commitment to China. Our innovative technologies can help industrial customers improve productivity and reduce costs, in line with government plans for industry upgrading," said Greg Scheu, ABB Group's head of marketing and customer solutions.

"Our comprehensive offerings for China's needs are made possible by fast-growing local research and development efforts. Thus, we are committed to continued investment in local research and development, sales, service and manufacturing, which will raise customer satisfaction to an unprecedented level," said Scheu.