China’s economy has entered a new normal. We are facing some new challenges, such as slower economic growth, lower investment in some industries, and rising labor costs. thyssenkrupp clearly understands the challenges come with opportunities not only for us, but also for other players in the market.
To tackle the challenges, we will follow market trends and focus our innovation and business development in some important sectors, such as resource-efficient and eco-friendly technology, urban mobility and smart manufacturing.
These are also some of the focal points of the 13th Five-Year Plan. China is one of the most important strategic markets for thyssenkrupp. We have invested over 500 million euros in China in the past five years and will expand investments in the future. We are fully confident in the China market.