BEIJING, Nov. 9 (Xinhua) -- Against the background of the energy revolution and the fourth industrial revolution, China's "new normal" development and supply-side reform will bring lots of market opportunities to the power and automation enterprises, said Ulrich Spiesshofer, CEO of ABB Group, a leading global power and automation company at the recent ABB Power World 2016 in Beijing.
At present, the global power and automation fields have been faced with two revolutions, namely, energy revolution and the fourth industrial revolution. The digital technology represented by the industrial Internet has developed fast. Development of the new fields including distributed energy sources power generation, renewable energy sources' connection with power grid and electric vehicle charging, and the new technologies is driving a major transformation, according to Ulrich Spiesshofer.
He said that on the one hand, China plans to build a clean, low-carbon, secure and efficient modern energy system in the 13th Five-Year Plan period (from 2016 to 2020), which will lead to huge demands for equipment and services of smart grid, UHVDC power transmission, micro-grid, renewable energy sources' connection with the power grid, and new-type energy storage technology. On the other hand, China is advancing the supply-side structural reform, accelerating the increase in industrial production efficiency, and implementing the strategy of "Made in China 2025", showing good prospects for growth of industrial robot, equipment and software of the process industry.
At present, China has been the world's largest industrial robot market. It is reported that the ABB Group has already built or laid out robot companies or application centers in China's Zhuhai, Qingdao, Wuhan, Chongqing, etc.
Meanwhile, China's new-type urbanization development will also boost development of the smart home, green building, electric vehicle and other industries. The infrastructure interconnection under the "Belt and Road" Initiative will also create more cooperation opportunities for the transnational enterprises in relevant fields, Ulrich Spiesshofer added.
He pointed out that digitization is an industrial development trend in the future. Despite a slowdown in China's economic growth on the whole, its digital economy develops fast and takes the lead in the world. Therefore, enterprises in relevant fields will make a difference.
Earlier, in 1992, the ABB Group set up factories in China. After more than two decades of development, China has become ABB Group's second largest market in the world.
(This information was firstly published in Belt and Road Weekly newsletter on Nov. 4, for subscription to get more timely updates, please contact us at silkroadweekly@xinhua.org)
(Edited by Hu Pingchao, hupingchao@xinhua.org)
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