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The Pak Banker - - COMPANIES/BOSS -

China is still one of the big­gest mar­ket for Siemens AG, a Ger­man multi­na­tional con­glom­er­ate, and the com­pany re­mains op­ti­mistic about the coun­try's fu­ture, a man­age­ment board mem­ber and chief tech­nol­ogy of­fi­cer(CTO) of the com­pany has said. China's GDP growth rate, which stood at 6.9 per­cent in 2015, is still one of the fastest in the world, Siegfried Russ­wurm said on the side­lines of the World Eco­nomic Fo­rum. Con­sid­er­ing the growth rate and size of its econ­omy, China is still one of the big­gest mar­ket glob­ally, said Russ­wurm, adding he be­lieved the Chi­nese mar­ket, where Siemens had wit­nessed rapid growth, still had a great prospect. Russ­wurm also spoke highly of the growth pat­tern of China. China is not only a user but also a con­trib­u­tor to the de­vel­op­ment of In­dus­try 4.0, which is con­sid­ered by many as the fourth in­dus­trial rev­o­lu­tion, ac­cord­ing to the ex­pert. As one of the pi­o­neers in the pro­mo­tion and use of smart tech­nolo­gies, also re­ferred to as In­dus­try 4.0 in Ger­many, Siemens is one of the first com­pa­nies to set up smart fac­to­ries in China. Russ­wurm said the elec­tronic prod­uct com­pany of Siemens in Shen­zhen in south­ern China is typ­i­cally taken as "the icon of the fac­tory of the fu­ture." The CTO said Siemens had a strong re­search and de­vel­op­ment team in China, which con­trib­uted to the global con­cept of the fourth in­dus­trial rev­o­lu­tion. China has be­come a big part of the global econ­omy, and China would be treated the same as other mar­kets in a dig­i­tal and global world, said Russ­wurm.

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