STORY: Schneider says Chinese market remains important
SHOOTING TIME: April 23, 2024
DATELINE: April 24, 2024
LENGTH: 00:01:19
LOCATION: HANNOVER, Germany
CATEGORY: ECONOMY

SHOTLIST:
1. SOUNDBITE (English): BARBARA FREI, Executive vice president of Schneider Electric
2. various of Chinese cities and industries

STORYLINE:

A senior executive of Schneider Electric emphasized the importance of the Chinese market during an interview with Xinhua at the ongoing Hannover Messe 2024 Trade Fair.

SOUNDBITE (English): BARBARA FREI, Executive vice president of Schneider Electric
"You know, the importance of the Chinese market, from my point of view, has not changed. Specifically in industrial automation, it's our largest market.
There is more openness for innovation. For me, China has become also an innovation driver, specifically in our business. So that gives a lot of other opportunities. So for me, it has equal importance like before.
We were ramping up new production lines, specifically in Wuxi. So, and this was like having, instead of only one line in Europe, we wanted to have a second line in China to be ready and available for the Chinese market. That is one clear investment. The other investment is in innovation. So we have established a hub for R&D.
China is world-leading in delivering components to the renewable markets, be it wind turbines, be it solar panels or the whole EV charging, EV battery area. So when we talk about the new energy landscape today, China is leading.
So you (China) are leading the energy landscape, new energy landscape, and now in Europe we are starting to catch up with you.
But then, there is a lot which is happening in electric transition locally, the way how you build HVDC (high-voltage direct current lines) to transfer the energy from A to B in an efficient way. And also I think here China has done good progress over the time."

Schneider Electric has established R&D centers in multiple Chinese cities including Beijing, Shanghai, Wuxi, Xi'an and Shenzhen.

Xinhua News Agency correspondents reporting from Hannover, Germany.
(XHTV)