In a remarkable display of confidence in China’s aviation future, Airbus, the European aircraft manufacturer, broke ground on its second final assembly line in Tianjin Municipality within just over five months of signing the agreement, spanning from April to September.
Airbus CEO Guillaume Faury emphasized the significance of this move, stating that it underscores Airbus’ strong and enduring partnership with Chinese counterparts and its belief in the Chinese aviation sector’s prospects.
China’s multifaceted advantages, including its vast market size, well-established industrial infrastructure, supportive environment for technological innovation, and commitment to opening up to the world, continue to attract a growing influx of foreign investments.
In May, Danfoss, a leading player in the refrigeration industry, inaugurated its global refrigeration research and development (R&D) and testing center in Tianjin. Spanning an expansive area of approximately 7,000 square meters and requiring a total investment of around 140 million yuan (about 19 million U.S. dollars), this center stands as the company’s most advanced and largest facility worldwide.
Arthur Xu, President of Danfoss China, emphasized the transition from “producing” to “creating” within China, reflecting the company’s confidence in China’s sustainable development and the long-term prospects of its economy.
Recent trends show that foreign corporations are increasingly selecting China as their hub for research and development to meet the growing demands of the Chinese market while serving a global audience.
In June, Honeywell, a U.S.-based industrial conglomerate, unveiled its Sustainability and Digitalization Innovation Center in Tianjin, marking another strategic move by the company in China.
Henry Liu, Vice President and General Manager of Honeywell Performance Materials and Technologies Asia-Pacific, highlighted the establishment of multiple R&D centers and innovation institutions in China during 2023 alone. Honeywell has been collaborating with Chinese partners to advance innovative technologies and mature solutions.
Liu expressed optimism regarding the opportunities arising from China’s “dual carbon” target and emphasized Honeywell’s commitment to working alongside Chinese partners to shape a sustainable future by developing products and technologies that meet customer energy-saving and environmental protection needs.
AstraZeneca, a global pharmaceutical company headquartered in the UK, recently inaugurated its Qingdao regional headquarters in Shandong Province, East China. According to an MOU signed in August, AstraZeneca will invest an additional $250 million in its Qingdao pMDI inhalation manufacturing and supply site.
By the year’s end, SMC (Tianjin) Manufacturing Co., Ltd., a wholly-owned subsidiary of Japan’s SMC Corporation, will initiate the second phase of its expansion project. With the new plant in operation, the Tianjin company’s annual output value is expected to reach 1.5 billion yuan, establishing it as SMC’s largest facility in China, as stated by Ma Qinghai, the company’s General Manager.
As the Chinese economy rebounds and the foreign investment environment continues to improve, an increasing number of high-value-added industries from across the globe will converge in China, according to Bai Ming, a researcher at the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce.