Relying on energy-saving emission reduction and renewable energy, some enterprises have gained momentum for rapid development. Recently, ABB, the world's leading power and automation technology group, announced its performance in China in 2010: orders amounted to US$4.5 billion, an increase of 10%, exports increased by 50%, and local procurement increased by 37%. China regains its position as the first market. At the same time, ABB China has achieved strong growth in energy conservation, emission reduction, renewable energy, water industry, railways and services.
“Although in the face of the global financial crisis and challenges from the transmission market, I am very pleased that ABB China has continued to maintain a strong and healthy organic development in 2010. ABB’s ongoing global resource allocation program makes China an important research and development group for the entire group. Manufacturing and service bases, as well as important purchasing and export hubs, said Fang Qin, president of ABB North Asia and ABB (China) Co., Ltd.
ABB’s investment in energy efficiency, industrial productivity, and power grid stability is the main driving force for business development. ABB has been investing more than US$100 million annually in China for the past seven years to continuously build, improve, and expand the design of energy-saving emission reduction products. With manufacturing capabilities, the introduction of the latest technologies and products accelerates localized production. For the past three years since the global financial crisis broke out, ABB’s total investment in China has increased to 500 million U.S. dollars.
“I expect China will continue to develop rapidly in the fields of energy conservation and emission reduction, renewable energy, water industry, railways and services. Therefore, ABB will continue to maintain its strong investment in China this year,†said Fang Qin. ABB actively supports the rapid development of China's renewable energy and water treatment business. In 2010, ABB China's wind energy business grew by 49%, water industry business grew by 26%, and service business grew by 24%.
“Although in the face of the global financial crisis and challenges from the transmission market, I am very pleased that ABB China has continued to maintain a strong and healthy organic development in 2010. ABB’s ongoing global resource allocation program makes China an important research and development group for the entire group. Manufacturing and service bases, as well as important purchasing and export hubs, said Fang Qin, president of ABB North Asia and ABB (China) Co., Ltd.
ABB’s investment in energy efficiency, industrial productivity, and power grid stability is the main driving force for business development. ABB has been investing more than US$100 million annually in China for the past seven years to continuously build, improve, and expand the design of energy-saving emission reduction products. With manufacturing capabilities, the introduction of the latest technologies and products accelerates localized production. For the past three years since the global financial crisis broke out, ABB’s total investment in China has increased to 500 million U.S. dollars.
“I expect China will continue to develop rapidly in the fields of energy conservation and emission reduction, renewable energy, water industry, railways and services. Therefore, ABB will continue to maintain its strong investment in China this year,†said Fang Qin. ABB actively supports the rapid development of China's renewable energy and water treatment business. In 2010, ABB China's wind energy business grew by 49%, water industry business grew by 26%, and service business grew by 24%.
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