Embracing latest tech to fuel growth
Q2 "New quality productive forces "is widely seen as key to helping China achieve industrial upgrade and "high-quality development". How can your company help cultivate such forces in China?
XU: New quality productive forces are essential for China's industrial upgrade and high-quality development, and GE Vernova is well-positioned to contribute to this goal in several key ways. China's robust push for renewable energy has revealed vast potential to GE Vernova. For example, GE Vernova is exploring the application of new fuels like hydrogen and enhancing our turbines' hydrogen combustion capabilities. This innovation not only supports China's dual-carbon goals, but also addresses national energy security by reducing reliance on imported natural gas. Given China's large-scale renewable energy growth, GE Vernova believes that China has the potential to lead in the large-scale application of green hydrogen, achieving "leapfrog development". We aim to constantly improve productivity while driving low-carbon transition with technological innovation.
HOMMA: China's development of new quality productive forces is beneficial to long-term economic stability, with technological innovation being the most crucial element. China's leading technologies and concepts in areas such as IoT, AI, electric vehicles and solar cells, as well as other sustainable energy technologies, will all contribute to the development of new quality productive forces. Panasonic has closely kept pace with China's development. In recent years, Chinese teams have been responsible for the development, manufacturing and sales of home appliances and residential equipment in China. As the country continues to promote local technological innovation, Panasonic is contributing to the advancement of new quality productive forces in China. We hope that the bases of foreign-invested enterprises in China can also be recognized as an integral part of the country's supply chain.
NACHREINER: My understanding of new quality productive forces in agriculture is to drive agriculture by scientific and technological innovation. When it comes to innovation, I would like to highlight two key projects. The first is the Drone Plus program, a digital tool designed to help farmers make better decisions regarding drone applications. This initiative involves not only farmers but also partners, providing us with an opportunity to engage more closely with farmers and assist them in their operations. The second project is the Better Life Farming initiative, which is specifically tailored to smallholder farmers in China. We understand the significance of smallholder farming for the country and last year we launched 50 Better Life Farming centers. We aim to continue expanding this initiative by providing not only solutions and products, but also facilitating knowledge transfer to help farmers improve their practices and produce more sustainably.
ZHUANG: Under the background of carbon neutrality, the global energy transformation has entered a stage of accelerated advancement. Its core is to promote the development of renewable energy and ultimately achieve a transition from a fossil energy system to a green, sustainable and renewable energy system. Baker Hughes' work unlocks the ability for technology, digital solutions and sustainable energy to power China's industrial upgrading while capturing and cutting emissions, and maximizing efficiency, productivity and reliability. It provides practical solutions for collaborating with Chinese partners on cutting-edge technologies such as geothermal drilling and training local talent in AI and green tech through partnerships with Chinese universities and vocational institutes.
