ABB shares overseas investment localization experi

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ABB shares its experience in overseas investment localization with Chongqing

youkel, executive vice president of ABB, emphasizes strengthening local R & D and abiding by the highest business ethics standards

share ABB's experience in cultural integration, technological innovation and stakeholder relations

Chongqing, On September 23, 2012, the executive vice president of ABB group, the world's leading power and automation technology group, delivered a special speech entitled localization strategy of overseas investment at the 7th annual meeting of Chongqing mayor's international economic advisory group meeting today, sharing ABB's experience in localization operation through cultural integration, technological innovation and stakeholder relations

referring to the theme of this annual meeting, the confusion and Countermeasures of Chongqing enterprises' going global strategy and overseas investment, yukol said: just like the situation encountered by foreign enterprises in China, Chinese enterprises investing overseas also need to face the challenges brought by differences in culture and values, working methods and financial standards, and the relationship between different stakeholders. No enterprise can simply copy its own business model to other markets. They need to adjust it, which is a learning process

in terms of technological innovation, yukol emphasizes that technological advantage is the key to maintaining the leading position in the industry for enterprises such as abb, and local R & D helps to meet the needs of local customers, so as to improve the competitiveness of enterprises. Yukol revealed that abb will significantly increase the proportion of R & D personnel in emerging markets. At present, 27% of our global R & D team members come from emerging markets, and we plan to increase this proportion to 50% in the next few years

in terms of stakeholder relations, yukel said: testing equipment needed in the textile industry: when making overseas investment, enterprises need to undertake a series of responsibilities to internal and external stakeholders. Most importantly, they need to respect local laws, contribute to the local economy, become a responsible employer, follow the highest business ethics standards and become good corporate citizens. Only in this way can they be protected by local laws, get due support, show their strength in a fair competition environment, and receive the same treatment as local enterprises

since the establishment of the conference system of Chongqing mayor's International Economic Advisory Group in 2006, abb has been one of its international economic advisers and participated in all 7 annual conferences so far. At last year's annual meeting, focusing on the theme of building a cloud smart city in Chongqing, abb discussed encouraging high-tech enterprises to develop new technologies and business models in the information industry, with special emphasis on the importance of technological innovation, especially in smart power and efficiency and energy conservation, and its strategic significance for power security, urban environment and people's quality of life in Chongqing's future development

ABB has always been committed to long-term development in China, adhering to the development concept of "in China, for China", and actively promoting local R & D, local procurement and local production. Chongqing is the bridgehead of China's western development and one of ABB's key business areas

Chongqing ABB Transformer Co., Ltd., which has been rated as one of China's top 100 electric enterprises for seven consecutive years, is ABB's global transformer production base and transformer design center and the largest insulation manufacturing center in Asia. Chongqing Design and Chongqing manufacturing have successfully moved to the world. In August this year, the first 800 kV high-voltage DC converter transformer manufactured by ABB transformer in Chongqing successfully passed the test at one time, which is the converter transformer with the highest DC voltage level in the world. Its successful offline fully shows ABB's success in localized R & D and manufacturing, and has become an important milestone in ABB's development in China

Chongqing ABB Jiangjin Turbocharging System Co., Ltd. is one of ABB's global turbocharger production bases, and has service stations in six major coastal port cities in China. Today, Chongqing ABB Jiangjin Turbocharging System Co., Ltd. is gradually introducing the world's most advanced ABB A100 series turbochargers for localized production

ABB has always attached great importance to its development in Chongqing and will continue to increase its investment here in the future. It will develop to a higher goal in production design, engineering services, localization, talent absorption until it is qualified and trained, as well as enterprise civil society. At this time, the motion curve and various results will be displayed on the computer. ABB will continue to maintain its stable development in Chongqing, consolidate its leading position in the industry and make its due contribution to the economic construction of Chongqing and Western China

abb is a global leader in power and automation technology. Abb is committed to helping power, utility and industrial customers improve their performance while reducing their impact on the environment. ABB Group has businesses in more than 100 countries and 145000 employees. ABB has a full range of business activities in China, including R & D, manufacturing, sales and engineering services. It has 18300 employees, 36 local enterprises and sales and service networks in 80 cities across the country. To learn more about abb, please visit. Sina Weibo: @ ABB China

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