What business leaders are watching at CIIE: Part II
Paul Lindblad, president of Wackaer China
What are the highlights of your exhibits at the China International Import Expo? Are you launching any new products, technologies or solutions?
Wacker highlights in CIIE include the ACEO? 3D printing with silicones which is the world's first silicone elastomer-based 3D printing technology, and the ultrathin precision silicone film that can be used as electroactive polymers for intelligent wearable products and industrial applications such as wave power generation. We will also display the world's first 3D printing process to use chewing gum which allows individually personalized gum in a wide range of colors, shapes and flavors. All these products and technologies are cutting-edge and were developed in recent years. Although we have introduced the 3D printing technology for silicones and chewing gum in China since 2016, this is the first time we present silicone 3D printing machine and the 3D printing machine for chewing gum in China.
In terms of deals, what do you expect from the CIIE? Whom are you targeting?
For silicone 3D printing, we are targeting to a wide variety of industries, such as automotive, aerospace and aviation, healthcare, equipment industry and mechanical engineering.
For ultrathin precision silicone film, we not only expect to work with related manufacturer and institution in China, but also hope local manufacturing industry could leverage this novel material to develop more new applications in China.
For 3D printing to use chewing gum, it is not only an innovation for fun, but can also meet the trend of individuation of the young generation. We think candy shop owners might like to have such machine in their shops. In addition, as our technology also allows manufacturers to add more natural ingredients, such as herbal extract, into formulation, it enables the new type of chewing gum to carry more functionality than before, which is also attractive to candy manufacturers.
Do you think the CIIE could eventually help drive the development or upgrade of the industry your company is in, and your company's strategy in China?
Yes, we believe the CIIE will further accelerate Chinese industry's transformation to high-end manufacturing, because the novel material and technology introduced at the show will enable innovation in a wide variety of industries. Meanwhile, leveraging the strength and resource of each region, the high quality and cost performance raw material from the global market also allow Chinese manufacturing industry to produce competitive products to win out in both the local and global market.
CIIE demonstrates the Chinese government's firm support to the trade liberalization and economic globalization, and its determination of actively opening the market to the world. Therefore, we can continue to carry on our global production and global sourcing strategy, which means we can leverage the resources and benefits of the global market to supply our customers to the best of their interests.
What's your view on China's pledge to further open up its markets to foreign companies? How would that benefit your business? Any specific examples?
After 30-year rapid development, Chinese economy has reached a new height. The Chinese government has clearly realized that export is no longer the sole driving force for continuous growth. Increasing import is of great importance, in terms of both political and economic reasons.
We are very encouraged by the new opening-up measures President Xi Jinping announced at the Boao Forum early this year. We are glad to hear that China will significantly expand market access and actively expand imports which will benefit globally-operated companies such as Wacker. The opening-up policy allows us to leverage the resources and benefits of the global market to supply our customers to the best of their interests. For example, we can continue to supply Chinese PV module producers with our high-quality polysilicon product produced in Germany. Meanwhile, strengthening intellectual property rights protection and a more transparent investment environment aligned with international standards reinsures us to further invest and develop in China.
What is your forecast for China's economy in the next three years? What key issues will you be watching for?
With the policy orientation and measures taken for industry upgrade, environmental protection and trade liberalization, as well as the increasingly open and transparent market, we believe China's economy will continue to growth in the next few years. That's also why we decide to increase investment in China.
With 50 percent of our sales revenue in China generated by imported products and 20 percent of products produced in China export to overseas market, China is a market for both import and export to Wacker. Therefore, we attach great importance to trade liberalization related movements.
Meanwhile, as a foreign invested company, we always appreciate an investment environment that is in line with international standard. We are pleased that the Chinese government has taken several measures to simplify investment process in recent years.
Furthermore, as our products are widely used in products and applications that are needed in daily life, such as hair care products and medical supplies, we will be pleased to see more changes that could increase domestic consumption in China, for example, the recent individual income tax reform.
