China's west is opening and developing quickly with huge potential and Schneider Electric will increase its investment in the region, the French company's CEO said.
China will be a "very strong force" in the multipolar world, Jean-Pascal Tricoire, chairman and chief executive officer of Schneider Electric, told Xinhua in a recent interview.
The 50-year-old energy management specialist is expected to attend the Global Fortune Forum held in the southwestern Chinese city of Chengdu in June.
"I've been going to west China for the past 20 years," said Tricoire, whose company set up its first regional office in Chengdu in 1995.
He said that the Chinese government has put a lot of efforts into the region, saying an improved transportation system and modern infrastructure have made the area more accessible.
"When I go to Chengdu today, it is already a very modern city compared with five years ago. You don't see it as a developing city, but already a very well developed city," Tricoire said.
Schneider Electric has participated in many "big phases" in the development of west China, such as electrification, urbanization, industrialization and digitization.
Tricoire said the 177-year-old company will not only introduce its advanced technologies to the region, but also invest in various fields, including manufacturing, R&D, supply chain and distribution centers.
"We have opened a lot of offices in the west in the past two years so that we can develop the appropriate product for China, but more specifically for west China," he said.
The company will increase investment in west China because the region has "huge potential," the same as east China, Tricoire said.
He said that as China builds new cities in the region, Schneider Electric wants to partner with local Chinese companies in the region's development.
China is playing a very important role because of its population of 1.3 billion and fast economic development, Tricoire said.
"The development of China is very directed, well organized and well executed," he said.
Nevertheless, Tricoire said, China is also facing some challenges as it transforms its growth pattern from an export-driven economy to a domestic consumption-driven economy.
The challenges, he said, include developing sustainable urbanization, tackling pollution, and going from low-cost production to an innovation society. Endite
