From left to right: Ma Jun, senior vice-president of Volvo Group, and president of Volvo (China) Investment Co Ltd; Yu Yongjian, TotalEnergies China country chair; Ian Shih, president of Rockwell Automation China; Hideki Ozawa, executive vice-president of Canon, and president & CEO of Canon China. [Photo provided to chinadaily.com.cn]
Editor's Note: This year marks a critical milestone as China concludes its 14th Five-Year Plan. To help in assessing the success of the process, we have asked multinational executives to share with our readers their insights about their business achievements in the past few years and further expectations in the years to come.
Q1: What are your expectations for the ongoing two sessions? Do you expect any specific policy measures for further deepening reforms and expanding high-standard opening-up? What more should China do to create a more enabling business environment for foreign investors?
MA: The recently released 2025 Action Plan for Stabilizing Foreign Investment is a strong signal of China's firm commitment to high-standard opening-up. We're eager to see the detailed supporting measures and timelines that will facilitate the full implementation of the plan. The action plan requires the full abolition of foreign investment access restrictions in the manufacturing sector. In terms of personnel exchanges, we also seek more relaxed policies for foreign talent in China, such as longer and more convenient work visas and residence permits, and a streamlined talent introduction process to help MNCs attract top global talent. Sweden was the first Western country to establish diplomatic ties with China. We propose that China grants a unilateral visa-free policy for Sweden, a move that would significantly boost business confidence and catalyze deeper economic cooperation between the two nations. We expect a fair and competitive business environment secured by institutional guarantees. It would further boost MNCs' confidence in, and commitment to, China.
YU: TotalEnergies' ambition and strategy align perfectly with China's needs, creating a solid foundation for mutual success. Over the years, we have contributed significantly to China's energy transition by supplying LNG, replacing coal, investing in renewable energy, developing CCUS technologies and fostering extensive international partnerships with Chinese companies. Looking ahead, we would like to see more open policies and a better environment for foreign investment to better support our multienergy strategy in China and international energy cooperation. We welcome clear policy signals to deepen cooperation in clean energy sectors such as renewable energy and biomass energy. We firmly believe that China has all the necessary political, economic and industrial resources to drive the energy sector forward and lead the world in a successful energy transition.
SHIH: Rockwell Automation anticipates that the two sessions will bring forward significant measures to strengthen reforms and broaden high-standard opening-up. Specifically, we would appreciate updates that will further encourage foreign companies in the fields of smart manufacturing, sustainability and industrial upgrading. China's initiatives to foster a more enabling business environment would support Rockwell's long-term growth in the market. We also see growing opportunities to collaborate with local partners across various fields to address the industrial and urban challenges together.
OZAWA: We look forward to the two sessions emphasizing policies that optimize the business environment, simplify market entry for foreign-invested enterprises, strengthen intellectual property protection and promote cooperation in the digital economy. These measures are crucial for creating a dynamic and inclusive business environment with Chinese characteristics. Canon expresses confidence in China's continuous pursuit of high-standard opening-up and economic reforms. The recently released 2025 Action Plan for Stabilizing Foreign Investment is encouraging. Canon looks forward to the implementation of this plan, which will provide foreign-invested enterprises with more diversified business development opportunities. We welcome China's efforts to promote equal treatment of foreign-invested and domestic enterprises. This will boost investor confidence and create more opportunities for cooperation.
Q2: "New quality productive forces "is widely seen as key to helping China achieve industrial upgrade and "high-quality development". How can your company help cultivate such forces in China?
MA: At Volvo Group, we aim to drive prosperity through sustainable transport and infrastructure solutions. The business transformation we are experiencing in both transportation and infrastructure sectors is perfectly aligned with China's top agenda for new quality productive forces, as both emphasize innovation-driven and green development. We are committed to leading the industrial transition toward electrification, and we are doing this with an international setup, with China being an important part of our strategy. Through our R&D center in Jinan and production base in Shanghai, Volvo CE has launched a range of electrified equipment, which helped expand our new energy product lineup in both Chinese and international markets. Volvo Group is also actively contributing to China's circular economy goals. In 2023, soon after Premier Li Qiang's visit to our remanufacturing center in Shanghai, we successfully completed China's first import order for remanufactured engines. This year, we will take a step further and initiate a pilot program for bonded remanufacturing operations in China. This initiative seeks to enhance our role in the circular economy, underscoring our commitment to innovative and environmentally responsible business practices.
YU: To support the development of new quality productive forces, TotalEnergies is investing in renewable energies in China, including wind and solar power, as well as contributing to the development of energy storage and high-quality rubber products. Additionally, TotalEnergies is focused on providing low-carbon products to support China's high-quality development, particularly in the aviation sector. For example, in partnership with Sinopec, we are developing a sustainable aviation fuel production unit in China.
SHIH: Thanks to China's dedication to developing "new quality productive forces", Rockwell has the opportunity to engage in many key areas, including technology innovation and smart manufacturing. To further support China's development in these fields, Rockwell leverages our global network and over a century of expertise in smart manufacturing to actively promote the industrial-scale application of technological innovations. Rockwell is dedicated to helping the cultivation of China's "new quality productive forces" through energy transition, life sciences, high-end equipment, digital and AI innovations, and explorations in other fields. Foreign enterprises have become a vital part of China's technological innovation. Rockwell firmly believes that the open environment and policy support in the Chinese market will continue to enable us to unlock the full potential of technology and smart manufacturing, working closer with our local partners.
OZAWA: Canon contributes to the cultivation of "new quality productive forces "in China by developing and providing innovative products, solutions and services that meet the needs of the Chinese market. Particularly in areas where Canon excels, such as imaging, printing, healthcare and semiconductor-related industrial equipment, we integrate advanced technologies like AI, big data and cloud computing to help drive the digital transformation and upgrading of related industries in China. At the same time, by expanding localized R&D and production capabilities, extending partnerships with upstream and downstream companies and strengthening green and low-carbon development, we aim to better adapt to the rapidly changing demands of the Chinese market. We are committed to continuously contributing to China's high-quality development through these efforts.
Q3: DeepSeek has been a buzzword and surprised the world starting this year. AI technology has been deeply integrated with various industries around the world. What opportunities do you foresee for your business from AI technology? What's your view on China's ability to sustain innovation in breakthrough technologies in the coming years?
MA: AI's transformative power aligns perfectly with Volvo Group's mission — to drive prosperity through transport and infrastructure solutions and create a better world for us and future generations. At Volvo Group, we see great potential in AI and fully embrace new technologies. We have now deployed AI across our operations, using it to optimize costs, enhance efficiency and expand markets, driving innovation that adds real business value. At the same time, we prioritize responsible AI governance to ensure its secure, scalable and ethical deployment. We see great potential in China's AI growth. With its vast market and diverse application scenarios, China provides a unique space for AI innovation. I look forward to seeing more creative AI solutions in the transport and infrastructure sectors, to help further reduce logistics costs and support sustainable development in China and globally.
YU: TotalEnergies has for several years leveraged AI in our exploration and production activities to predict oilfield output and optimize production processes. As the company diversifies its business, we are also applying AI to explore new areas. Additionally, we utilize digital simulation tools to determine the best layout for wind turbines, minimizing production losses and equipment wear. In 2020, we established a digital factory bringing together 300 AI and digital technology experts to develop digital solutions and offer new energy management services to our customers. China has made remarkable advancements in AI with applications like DeepSeek gaining global attention. We look forward to deepening our collaboration with Chinese partners in the field of digital technologies.
SHIH: AI is one of the key drivers of productivity. According to Rockwell's 9th annual State of Smart Manufacturing report, by 2024, 83 percent of manufacturers planned to use generative AI in their operations. In the manufacturing sector, AI can detect defects and ensure product quality in a more efficient, accurate and proactive way. China's commitment to innovation-driven growth and a supportive business environment has further enabled Rockwell to integrate AI into our overall value chain from design, technology and patent, supply chain, and manufacturing to operation, AI and data mining, marketing and services. For example, through initiatives like the co-innovation center we established with Shanghai Caohejing Hi-Tech Park, Rockwell is using AI and other emerging technologies to drive innovation and industrial upgrading in China.
OZAWA: AI technology has brought significant business opportunities to Canon, from cameras and printers to medical equipment. In recent years our new products have effectively integrated AI technology, significantly improving efficiency and enhancing user experience. Looking ahead, we see AI as a key driver for product line innovation. AI will continue to play a crucial role in making products smarter, more efficient and better at improving the user experience. Meanwhile, we are deeply exploring how AI can be applied to our own internal digital transformation, streamlining workflows, and boosting productivity. With strong emphasis on R&D and supportive government policies, China is expected to maintain its leading position in cutting-edge technologies in the coming years. This not only drives domestic innovation, but also contributes to the global technological landscape, making it more dynamic and competitive.
Q4: Driving domestic consumption is one of the top priorities for China to spur economic growth this year. How do you see China's potential to drive a consumption-led impetus for the economy? How will that affect your company's profitability this year?
MA: We believe logistics development will propel China's consumption-driven economy into high gear. Volvo Group's energy-efficient heavy-duty truck portfolio and digital logistics solutions remain key enablers of this industrial revolution. Last year, government policies accelerated local bond issuance and optimized funding allocation, which in turn boosted infrastructure investment significantly and fueled economic growth. Volvo Group will continue to drive industry transformation through electrification, automation and connectivity, delivering competitive products and integrated solutions to advance high-quality infrastructure development in the country.
YU: China is the world's second-largest consumer market, with immense domestic demand and consumption potential. TotalEnergies aims to leverage this opportunity to supply China with more and cleaner energy products, contributing to the country's green consumption upgrade. In the solar sector, we will develop distributed photovoltaic projects to provide industrial and commercial customers with self-sufficient clean energy at their sites. In the EV sector, we are making substantial investments in building fast-charging infrastructure to further promote the adoption of electric vehicles. Additionally, we are providing cleaner fuels for aviation and maritime sectors in China to reduce carbon emissions and support the green transformation of transportation and logistics. As a global leading LNG supplier, we aim to continue supplying LNG to China through our global resource pool, ensuring energy security and enhancing energy efficiency.
SHIH: Rockwell has noticed significant potential in China's shift toward a consumption-led economic growth model. The Chinese government's focus on boosting domestic consumption through policies such as enhancing the supply side will create new market opportunities. Rockwell aims to drive supply by generating new demand, and we are eager to create new demand through innovations and cross-border collaboration with our partners across the entire industry chain. Rockwell is committed to leveraging our capabilities to address both industrial and social challenges. For example, Rockwell is grafting on the technology that provides at least 50 percent more parking space than traditional vertical parking solutions, which could help drive parking construction and potentially boost vehicle consumption. Our innovative solutions can play a crucial role in helping Chinese manufacturers upgrade their capabilities, better meet market demand and generate a consumption-driven momentum for the economy.
OZAWA: We are confident in China's initiatives to boost domestic consumption, and Canon is eager to participate actively. Government subsidies for consumer electronics and support for the camera market have created new opportunities for the imaging industry, driving Canon's imaging product sales to new heights. We are confident that, with the support of national consumption promotion policies, we can return to the golden era of the camera market. The expansion of the national purchase subsidy program to digital products is welcome news. We look forward to seeing categories such as digital cameras and printers receive subsidy support nationwide. China's focus on consumption-led growth serves as a powerful driver of economic stability and business expansion. We believe these efforts will help improve Canon's profitability this year and contribute to overall economic recovery.
Q5: As China continues to pursue high-quality development along a Chinese path to modernization, what opportunities do you anticipate for your business as this process gains more traction? Will you increase investment in China in the coming years? How will you further expand your footprint in China?
MA: Volvo Group has been at the forefront of transforming transportation and infrastructure to be more sustainable, safe and efficient, not only in Europe but also around the world. With over 30 years in the Chinese mainland, we've built a unique innovation ecosystem, for instance, for our Volvo Construction Equipment business that blends global expertise with local insights. Our Jinan R&D center is a great example, where we mix global know-how with the needs of the local market to deliver tailored solutions for our diverse clients. Moving forward, Volvo Group will continue to harness our strengths to align global resources with China's innovation and productivity advantages to offer more products and services that are safer, cleaner and more efficient, to support our client's success and the sustainable development of the industry.
YU: TotalEnergies' strategy focuses on two pillars: oil and gas and integrated power, while advancing a multienergy approach. This aligns perfectly with China's path and offers us tremendous growth opportunities across our portfolio. It's worth noting that just recently we underwent an organizational restructuring in China. One of the main objectives of this reorganization was to strengthen our partnerships with local partners and to better leverage China's globally leading supply chain. All these measures demonstrate our confidence and long-term commitment to China. In the coming years, we will redouble our efforts in partnerships, technology co-development and localized solutions to strengthen our position as China's leading energy transition partner.
SHIH: China's commitment to pursuing high-quality development and modernization offers Rockwell great anticipation for our future growth in the local market. The positive signal of further opening-up gives us more confidence in our vision to continue empowering the local market and shaping the future with our local partners. Looking ahead, Rockwell will deepen our concentration on smart industrial parks to enhance the quality and efficiency of research, development, and production of innovations, aligning closely with China's high-quality development process. We will also continue to promote our sustainable ecosystem to accelerate the green transformation of the manufacturing industry. Rockwell also believes that China's open business environment will contribute to more collaboration opportunities. We look forward to deepening our collaboration with local partners to explore opportunities worldwide and support China's high-quality development.
OZAWA: We are delighted to see the Chinese government's ongoing efforts in promoting high-quality development and modernization, which have brought extensive development opportunities for Canon. Canon is well-positioned to play a significant role in China's industrial upgrade. Going forward, Canon will continue to increase its investment in China, provided that Canon China will increase our business year by year. This includes not only expanding R&D capabilities to better meet the innovative demands of the Chinese market, but also strengthening cooperation with local enterprises to jointly promote technological advancements and industrial upgrades, achieving mutual benefits and win-win outcomes.
