Vast market with unique features, bright prospects

According to a report presented to the 20th National Congress of the Communist Party of China, China will steadily expand institutional opening-up with regard to rules, regulations, management and standards, while stressing higher-level opening-up.

China has developed itself while making contributions to the world in the past decades through opening-up. The country has become a powerhouse of global economic growth, an advocate of global openness and a provider of international public goods, said Wang Shouwen, vice-minister of commerce.

Since the country announced in 2020 the goals of striving to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060, China has aligned its strength with pro-ecology and low-carbon efforts to fast-track the pursuit of its carbon goals.

Seeing visible ecological progress, foreign businesses in various industries, including traditional energy, construction, clothing, food and new materials, all incorporated the low-carbon vision into their products and services showcased at the CIIE.

With China entering a new era of green and innovation-led growth, ABB Group, a Swiss technology company and another five-time CIIE participant, showcased more than 40 products and digital solutions in smart energy, smart industry, smart city and green transportation at the fifth CIIE, to support China's sustainable and high-quality growth.

Lars Eckerlein, general manager of ABB (China) Ltd, said the company will put its $150 million mega robotics factory into operation in Shanghai in December. It will be the group's most advanced, automated and flexible factory worldwide — a center where robots will make robots. Apart from hosting an on-site research and development center, the new facility will supply robots to the global markets.

Zheng Dazhi, president of Bosch Thermotechnology in Asia-Pacific, a business unit of Germany's Bosch Group, said China's commitment to promoting green and low-carbon development allows the company to meet and exceed the expectations of local consumers who pursue comfortable and low-carbon lifestyles with its products and solutions.

"Looking forward, we are optimistic about the long-term and stable growth of China's consumer market, and will expand our presence in the segment of green and affordable residential heating systems," he said.

Bosch Thermotechnology made the China debut of its 100 percent hydrogen-ready heating system — a wall-hung condensing boiler with a heating power of 35 kilowatts — at the fifth CIIE.

After opening an application engineering center in Dongguan, Guangdong province, and an innovation center in Shanghai this year, Henkel, a German industrial and consumer goods manufacturer, said it believes that the CIIE has established as an open platform that will facilitate an inclusive and shared future.

"Our investments enabled us to first produce in China and then design in China," said Rajat Agarwal, president of Henkel China. "Today, we are innovating in China for the country, while supplying international markets with sustainable innovations created in China."

Attracted by China's consumption upgrade boom, Japanese consumer goods giant Kao Corp is also looking to invest more in both innovation and sales network expansion activities in China, bolstered by the country's higher-level opening-up.