Honeywell has high hopes for the Chinese economy's fast recovery since the country rebooted business operations. A key executive at the company announced that the government's rules and regulations, including its support for Honeywell's plants, might indicate better performance in the coming months.
During a written interview with Xinhua, the president of Honeywell Global High Growth Regions Shane Tedjarati announced that the company is pleased with the reboot of the Chinese economy. Tedjarati claimed that the Chinese government's rules, regulations, and support for the company's 21 plants in China allowed the resumption of manufacturing and customer service for Chinese consumers and abroad.
Tedjarati added that China had been the largest single-country market outside of the United States. Since the resumption of business operations, Honeywell announced that it would focus on its support for its Chinese customers. Tedjarati also announced that the pandemic had caused societal changes that highlighted the importance of digital technologies. Hence, the company believes that its software-industrial technologies allow Honeywell to better adapt to the industrial changes in the Chinese economy. He also added that the company is committed to enhancing its collaboration with its Chinese partners. The collaboration would improve its service in Wuhan and other parts of the country.
Honeywell is a registered wholly-owned subsidiary of Housheng Industrial Technology Co. Ltd. whose headquarters is based in Wuhan. Its mass-mid segment business is also in Wuhan. Tedjarati added that Wuhan is strategically located in China and that it functions as an essential industrial base. He also added that the location serves as a technology and research hub in China.
The executive also noted that it wants to enhance cooperation with Wuhan in promoting innovative technologies and enhance coverage in other parts of China, particularly in the central and west regions of the country.
At present, Honeywell has 50 wholly-owned enterprises and joint ventures in more than 30 cities in the country. It also has 21 plants that employ 11,000 Chinese residents, where 20 percent are technologists. Tedjarati then added that the company's growth in China is fully aligned with the country's macro trends, including the digital economy.
It was also noted that China had undergone a fantastic digital revolution by transforming the ways of work and living more exciting for Honeywell to establish new products. Tedjarati claimed that the establishment of new products enabled the company to incorporate software and data in revolutionary ways.
China's outstanding enterprises were also highlighted by Tedjarati. He noted that Honeywell experienced profound changes in the Chinese economy amid the pandemic and that these developments would contribute to the innovation and customer satisfaction in the country.
