French Companies Look to Deepen Cooperation and Increase Profits in China
French Companies Look to Deepen Cooperation and Increase Profits in China

French Companies Look to Deepen Cooperation and Increase Profits in China

In southwest Beijing, the Niukouyu Wetland Park spanning 140 hectares is a testament to the fruitful collaboration between Chinese and French enterprises. The park is situated on the former site of an industrial wastewater reservoir operated by the Sinopec Yanshan Petrochemical Company (SYPC). In 2006, SYPC partnered with France’s Veolia Environnement to tackle wastewater treatment, discharge, and ecological restoration. By 2017, the area had been transformed into a public wetland park, utilizing the treated wastewater as its primary water source. The park is now home to over 140 bird species, including rare ones, and a popular tourist spot.

Veolia’s senior executive vice president for the Asia-Pacific Zone, Christophe Maquet, expressed that his company provides customers with solutions aimed at reducing CO2 emissions. China’s “dual carbon” objective, therefore, serves as a critical driver for the company.

Meanwhile, the CEO of Veolia, Estelle Brachlianoff, stated that the company anticipates a focus on decarbonization, depollution, and circular economy as the key areas for future growth in the Chinese market.

In other news, the French pharmaceutical giant Sanofi recently signed a letter of intent with the government of Shenzhen’s Pingshan District, located in Guangdong Province. The agreement aims to hasten market access to innovative vaccines and promote the innovative development of the biopharmaceutical sector in the Guangdong-Hong Kong-Macao Greater Bay Area.

Thomas Triomphe, executive vice president and head of vaccines at Sanofi, revealed that the company is committed to introducing several innovative product pipelines in China. The Pingshan District has been developing a bio-industry cluster for the past few years, and data shows that the number of biopharmaceutical enterprises in the region had exceeded 1,000 by 2022.

Triomphe noted that Sanofi’s growth in China, particularly in vaccines, is due to the open international business environment created by the Shenzhen municipal government and Pingshan District. The company plans to introduce more innovative products and preventive solutions to support China’s public health system and promote economic growth in Shenzhen and the Greater Bay Area.

Furthermore, these partnerships align with China’s efforts to promote sustainable development and innovation. The Chinese government has prioritized these areas, with a focus on transitioning towards a green economy and reducing the country’s carbon footprint.

In this regard, the Chinese market offers immense potential for foreign businesses that specialize in sustainable and innovative solutions. Companies like Veolia and Sanofi have demonstrated their commitment to supporting China’s goals while also expanding their businesses in the country.

As the Chinese economy continues to grow, the demand for environmentally-friendly technologies and products will only increase. French companies, with their expertise in areas such as renewable energy, sustainable infrastructure, and green transportation, are well-positioned to meet this demand.

Overall, the continued collaboration between France and China is crucial for both countries, not only in terms of economic benefits but also in promoting sustainable and responsible development.


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