US-based smart building solutions provider Johnson Controls said it is closely watching China's green development to better tap the local market's vast business potential.

At the just concluded sixth China International Import Expo held in Shanghai, Johnson Controls demonstrated its advanced intelligent manufacturing achievements in China, some of which were debuting globally, and fully researched, developed and manufactured locally.

"Currently, China is promoting the construction of advanced manufacturing highlands, advocating the deep integration of digital technology and the real economy, and promoting green industrial development," said Anu Rathninde, president of Johnson Controls Asia-Pacific.

"Since China introduced its 'dual-carbon' goals in 2020, the country has been vigorously promoting an energy revolution, driving industrial green and low-carbon transformation and advocating eco-friendly lifestyles. The green and low-carbon transformation has now become an industry consensus," Rathninde said.

China's future strategic focus on green development, he noted, has made the concepts of green, low-carbon, resource efficiency, and environmental protection integral to the country's long-term development philosophy and approach. This strategy strongly aligns with Johnson Controls' vision of creating smart, healthy and sustainable buildings and cities of the future, he added.

According to a recent survey conducted by the China Council for the Promotion of International Trade, 98.2 percent of the nearly 400 multinational corporations and foreign business associations that were surveyed in the country said they had faith in the economic development prospects of the nation this year.

Specifically, new industrialization and green low-carbon industries have become priority investment directions for many foreign enterprises in China, and Johnson Controls is one of them.

Throughout its nearly 30-year presence in China, Johnson Controls has been consistently driving its own green transformation in local operations and production.

For example, the company's two manufacturing sites in Wuxi, Jiangsu province, are constantly committed to energy conservation and carbon reduction, looking for opportunities to save energy and reduce consumption in product design, production and supply chain.

The company's Asia-Pacific headquarters in Shanghai has achieved over 45 percent energy savings and more than 42 percent water conservation.

In addition, Johnson Controls' refrigeration, and heating ventilation and air conditioning, or HVAC, products have achieved 100 percent localized production and have more than 96 percent local engineering research and development capability.

Up to 70 percent of its products manufactured in local factories are sold domestically and are beginning to be supplied globally.

Chen Jia, a researcher at the Renmin University of China, said: "The resilience of China's economy demonstrated through the three-year COVID-19 pandemic greatly enhanced MNCs' confidence in investing and localizing production in China. Localization reduces costs and helps them take advantage of China's relatively mature industrial R&D capabilities."

Speaking of China's business environment for MNCs, Rathninde said this year marks the 45th anniversary of China's reform and opening-up. The country's commitment to advancing high-standard opening-up policies has continuously provided MNCs with more investment and cooperation opportunities.

On Nov 5, Chinese Premier Li Qiang vowed that the country will continue to ease market access and implement policies to remove all restrictions on foreign investors' access to the manufacturing sector.

The country will further deepen reform in various areas, create more platforms for opening-up, and build a globally oriented network of high-standard free trade areas, Li said.

In light of the opportunities arising from a new wave of technological revolution and industrial transformation, Johnson Controls said that China is actively championing the global exchange of innovative elements and participating in comprehensive collaborations, particularly in domains like the digital economy and green, low-carbon initiatives. This proactive approach is propelling sustainable economic development on a global scale.

"In the future, Johnson Controls will remain dedicated to our long-term commitment to the Chinese market. We will persist in driving green innovation, serving local market demands, advancing our research and manufacturing capabilities, and fostering broad partnerships within the industry," Rathninde said.