The world’s automation technology leader group Siemens is remaining optimistic about investment in China under the Belt and Road Initiative. CEO Joe Kaeser commented that it could be a good way for Siemens further expand its global footprint.
Kaeser firmly said Siemens can create double or even triple win situations with Chinese companies on the Belt and Road countries.
“Siemens has fully invested in China, and we have lots of local products. We can look with Chinese EPCs (Engineering Procurement Construction) for example, to help them go to those countries along the BRI. So we can actually bring new partners from China and established trust and relationship it takes to do good business,” he said.
Siemens has created a total of 8.1 billion euros revenue in China through 2018. As one of the largest foreign investment enterprises in China is has almost 40 thousand employees.
Kaeser commented China is one of the most successful markets for Siemens
“We have Global Headquarters in China for certain businesses which are recently installing our AI Headquarters in China, because China is a powerhouse of manufacturing in the future,” meanwhile he was vocal about how Chinese investments should be vetted in Europe, “I do not believe restrictions are the right answer to expand the economy. I mean the whole Western world including Germany is taking advantages of China’s opening up for 40 years now. I believe they can bring the world together through fairness, competitiveness innovation.”
Again, Kaeser told CGTN that two countries political matters do sometimes impact the global economy, but people should look at the root cause of the trade deficit. “Root cause is lack of competitiveness, they should actually find the root cause of innovation and productivity,” he said.