Honeywell sees surge in China revenue
Print Edition
HONEYWELL expects robust revenue growth — at double-digit pace — in China this year, thanks to surging demand for industrial and consumer products and related technologies in varied fields from Chinese-made jumbo jets, cars, home appliance to smart cities, the US conglomerate said yesterday.
Honeywell will strengthen its consumer-oriented market in China, including opening more stores, increasing production capacity, recruiting research and development engineers and establishing an e-commerce website, covering products like air purifying machines and other intelligent family-use products, Stephen Shang, Honeywell China’s president and chief executive, said in Shanghai.
“We have found plenty of business opportunities in China like smart cities, medical reform, high-end real estate and environment improvement,” Shang said.
At present, Honeywell has established four joint ventures in China to develop China-made jumbo jets in Xi’an, Changsha and two in Shanghai. It has also invested heavily to build plants in the oil refining, gas processing, petrochemical and renewable energy industries.
The next step for Honeywell China is to enhance channels to connect with local consumers directly. It aims to improve its distribution channels to sell more Honeywell products in the country. It is also looking to build a new online store of its own or in cooperation with domestic partners.
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