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March 25, 2019

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Going green creating major business opportunities

Green growth is gaining traction in China and posing fresh business opportunities for global investors, according to the head of Swedish manufacturing giant Volvo Group.

“While China’s economy is slowing from a percentage-point perspective, growth momentum remains strong given its large size and long-term supply-side structural reform,” Martin Lundstedt, president and CEO of Volvo Group, said on the sidelines of the 2019 China Development Forum.

The country’s development priorities are changing as the government stresses blue skies, digitalization and other fields that lay a solid foundation for a sustainable future, he added.

Lundstedt described China as a “highly efficient and smooth-running tractor,” which is also pulling a highly efficient trailer symbolizing the country’s booming e-commerce sector that fuels fast logistics development.

The industrial transportation giant has been in China, one of its second “home markets,” for 27 years with a presence in over 22 provinces across the country and about 6,000 employees. The company has two joint ventures and a whole value chain in China, including research and development, manufacturing, sales and services.

He said that the Chinese government is making solid efforts to further reform and opening-up. “We are deeply impressed by their great achievements and truly grateful to be part of it.”

Lundstedt pointed out that a new generation of vehicles is emerging which are electrified, connected, and increasingly autonomous, adding he is encouraged to see that China has drawn up a plan on developing new energy vehicles in its efforts to transition into a green economy.


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