STORY: ABB senior executive praises China's low-carbon commitment
DATELINE: Aug. 16, 2023
LENGTH: 00:02:31
LOCATION: SHANGHAI, China
CATEGORY: ECONOMY
 
SHOTLIST:
1. various of Shanghai and ABB Group
2. SOUNDBITE 1 (English): TARAK MEHTA, President, Motion Business Area of ABB Group
3. various of Shanghai and ABB Group
4. SOUNDBITE 2 (English): TARAK MEHTA, President, Motion Business Area of ABB Group
 
STORYLINE:
 
A senior executive with Swiss technology and engineering firm ABB Group has said that China's further reform and opening-up and acceleration of low-carbon economic transformation bring huge opportunities for foreign companies.

Tarak Mehta, president of ABB's Motion Business Area, said in an exclusive interview with Xinhua that ABB will continue to deeply cultivate the Chinese market.

SOUNDBITE 1 (English): TARAK MEHTA, President, Motion Business Area of ABB Group
"We have 450 people doing R&D in motion. A big number of them are sitting in Beijing. And that R&D hub is designed to create and develop products and solutions for the Chinese market. And in quite a few cases, there are also developing products which we will use all over the world. So, it's a commitment, a long-term commitment to doing research and development in China, for not only the local market, but also in many cases for the world. One of the reasons I want to come to China was to get a sense of how much the momentum is moving. What I'm very happy to see is the momentum is moving among the fastest anywhere in the world, towards a higher efficiency, low-carbon society."

A global survey commissioned by ABB last year showed that China is leading in energy conservation investment, with 86 percent of surveyed Chinese companies planning to improve energy efficiency in their operations.

SOUNDBITE 2 (English): TARAK MEHTA, President, Motion Business Area of ABB Group
"From my perspective, China is one of the most advanced countries when it comes to the commitment and also the actions relative to low carbon. So starting from the energy efficiency standards, but also the customers in the survey we just did, very clearly the industry is focused on making sure low carbon is not just a conversation topic, but an actual reality. And we are developing products and solutions. If you look at the products, we are selling far more of the higher efficiency solutions. For example, we almost have no market anymore for the lowest efficiency class motors in China anymore. We might sell them in other parts of the world because customers want them. But here, the standards are very high now for efficiency. And that drives the low-carbon future that China is looking for. So very, very happy to see the progress, a tremendous potential, as more and more industries shift to electricity as a way to bring energy. That means more opportunities for ABB but also a faster transition to a low-carbon society for China."
 
Xinhua News Agency correspondents reporting from Shanghai, China.
(XHTV)