Germany’s Zeiss shares optimistic outlook on future of Chinese market

Zeiss, a renowned German optics manufacturer, expressed its strong confidence in the Chinese market, as China's industrial upgrade efforts, investment, and research and development will continue to contribute to its economic growth.

Maximilian Foerst, the President and CEO of Zeiss Greater China , shared an optimistic outlook on the future of the Chinese market and emphasizes the critical role of the Chinese market for multinational success in a news program of China Global Television Network (CGTN).

Foerst stated that China's significance for Zeiss has remained consistent over time and continues to grow. Noting China's contribution to global economic growth from 2023 to 2028, Foerst said that China remains a major market that is essential for the success of a global multinational company.

"The position of China for Zeiss has not changed dramatically through all these time. I think the importance of China is still there and continues growing," said Foerst.

"I'll put it in a quite simple way. Actually, if you look at the expected global economic growth from 2023 to 2028, of the absolute amount of wealth created in the world, more than 20 percent will be generated by China. This is double what is going to be generated by the U.S. economy, which means for a company, a multinational like Zeiss, which is currently making 80 percent of its business revenue, innovation, and manufacturing outside of its borders, China is the major market. You cannot be successful as a global multinational nowadays without being heavily and strongly engaged in the China market," Foerst continued.

Foerst commended China's long-term development trajectory, describing it as positive and forward-looking.

He also highlighted China's investments in industrial upgrades, research and development, and innovation as contributing factors to the country's economic growth in the medium and long term.

Expressing the company's firm belief in the continuous growth of the Chinese market, Foerst said that Zeiss is doubling down on its investments.

"If you're looking at this in terms of investments and companies investing, every company obviously has its own reasons, but if I look at Zeiss, we clearly believe in the continued growth of the China market, and we are actually doubling down on our investments. We see more and more innovation coming out of China, and as a global company, we must be present in the market here with the local researchers, with the local partners to drive, but also to benefit from the innovation which is happening in the country," said Foerst.

Germany’s Zeiss shares optimistic outlook on future of Chinese market

Germany’s Zeiss shares optimistic outlook on future of Chinese market

On his second official visit to China, Prime Minister of the Republic of Vanuatu Charlot Salwai expressed admiration for China's remarkable ability to balance preserving its cultural heritage with embracing innovative transformation.

Salwai paid an official visit to China from July 7 to 12. During his trip, he toured the southern province of Guangdong and explored the megacities of Beijing and Shanghai. His visit included tours of high-tech companies, a ride on a high-speed train, and a performance of traditional Cantonese opera.

In an interview with China Central Television Network (CCTV) aired on Friday, Salwai recounted his journey starting with a warm welcome that included enjoying Beijing Roast Duck, also known as Peking Duck -- a culinary delight introduced to him by the Chinese ambassador in Vanuatu.

"Many had to say. Peking Duck. Because we had it here on our arrival, so it was very tasty. And I understand that the Chinese ambassador in Vanuatu brought us to one of the traditional restaurants, small but beautiful," he said. The prime minister sees China's preservation of its culture as a vital lesson in understanding one's roots and the journey to the present day, acknowledging China's efforts to integrate cultural preservation with modernization.

"It's going to be my second official visit to China. I'm always impressed to see big changes and especially innovations made by China and especially the cities. Because a big impression is to see how China continues to maintain and keep its culture. Because I think it's the basis of everything -- to know where you come from and to understand where we are today. I feel that China is doing a lot to maintain its culture, but at the same time, doing, innovating to transform its culture,” Salwai said.

He also emphasized the importance of learning from China's sustainable development strategies.

"Today, it comes from a long way, some hardship, the government, and also the people of China. So, I'm impressed to see what is done, especially how China associates infrastructure development with nature. That's meant to keep, continue to keep the environment. It takes effort with the climate change by maintaining the ecosystem. I think it's something that, for a small country like Vanuatu, is important to learn. So, we are here. I'm here with my delegation to learn," Salwai said.

Vanuatu's PM commends China's cultural preservation, innovation amid fast growth