Corning to invest $500 million to expand presence in China

United States-based materials science company Corning Incorporated plans to invest another $500 million in China this year, reinforcing its long-standing commitment to what it calls its most important overseas market, despite ongoing geopolitical and economic headwinds.

"This year marks the milestone of Corning being in China for 45 years, so we are going to expand our capability and also upgrade our technology," Lin Chunmei, vice-president of Corning Incorporated, said during a recent exclusive interview with China Daily. "Our strategy is very simple — just keep investing in our leading technology capabilities in China."

Since entering the Chinese market in the 1980s, Corning has invested more than $9 billion in the country. Today, it operates 21 manufacturing plants, a research and development center and three technology centers, employing nearly 6,000 people across the country.

Despite headwinds such as weaker global demand and trade disputes, Lin, who is also president and general manager of Corning Greater China, said she expects the company to achieve steady growth in China this year, voicing strong confidence and optimism about China's long-term prospects.

"China is no longer a country of just cheap labor … It has very sophisticated talent and the complete infrastructure," Lin said. "I think China now has much more power and strength to go through challenges than before."

While acknowledging the short-term challenges posed by trade frictions between the US and China, Lin argued that economic logic would ultimately prevail. "This kind of trade war is a lose-lose. China will get hurt, but the others will hurt too," she said. "At the end of the day, business is business. We need to be rational to make the most logical decisions that benefit both. Eventually, I think that will be the solution."

This year, China is putting a priority on fostering new quality productive forces and boosting technological innovation in its economic agenda. According to the Government Work Report, China will strive to develop new quality productive forces in light of local conditions and accelerate the development of a modernized industrial system. This will require the fostering of emerging industries and industries of the future, such as biomanufacturing, quantum technology and embodied artificial intelligence.

"Developing new quality productive forces will be key to boosting China's long-term economic growth potential, with AI — in which the US and China are seeking to gain a competitive edge — set for intensified development," said Li Chao, chief economist at Zheshang Securities. "Future industries could be a particular focus and we anticipate new industrial plans to outline their growth trajectories."

Now, Corning is capitalizing on key trends, including China's AI boom, data center expansion and environmental policy upgrades — areas where the company's specialty glass, ceramics and expertise in optical physics are in high demand.

"AI is very important to us because customers need better connection," Lin said. "It has enhanced our optical communications business globally — in the US and also in China. We are actually upgrading our fiber capabilities, making more premium fiber in China, and we also have a plan to increase our capability to support the demand for data centers."

The company is also targeting growth in China's auto sector, the world's largest in terms of both sales and manufacturing capability. Corning provides advanced glass and emission control products for the country's increasingly tech-forward and environmentally-conscious vehicles.

"China-made cars are very cool, not only their engines but also user-friendly designs," Lin said. "Our auto glass really makes it very user-friendly and visually appealing. That's an investment area we continue to expand in."

In life sciences, Corning has signed strategic agreements with local biopharmaceutical companies to deliver customized solutions and support their mass production efforts.

Looking ahead, Lin sees Corning's future inextricably linked to China's continued rise as a global tech and industrial powerhouse.

"To us, 'grow with China' is not a slogan — it's what we have seen in the past," Lin said. "The next China is still China. I believe in it. China still has a lot of strong momentum and strengths to keep growing."

Lin emphasized the company's commitment to deep, long-term partnerships. "We build very strong partnerships with our customers. As a technology leader, we work with our customers with our innovations and they can develop their new products with us. We really grow together."