Kim Fausing, president and CEO of Danish multinational Danfoss sees huge opportunities in China's drive for industry upgrading and green and digital transformation, and voices optimism about investing in China.

In an interview with the China Global Television Network (CGTN), Fausing shared his thoughts on the appeal of the Chinese market, particularly in the context of China's emphasis on high-quality growth.

Fausing said Danfoss' business in China has experienced rapid growth in recent years. Its sales in China reached around 4 billion yuan in 2015, while in 2022, the number has more than doubled to around 10 billion yuan. One of the main drivers of its continued and robust growth is the strong momentum in green investment unleashed by China's pledge to reach its dual-carbon goals.

"The key is that we see very big opportunities in, from a Danfoss perspective, for example, the focus on continuing the digital transformation, using digital technology, but also that China focuses a lot on decarbonizing, on the green transformation and that is something we can really see, so I think, half of the capacity that's been invested in renewables, in solar has been invested in China compared to the world. So I think there's a lot of evidence for that. So, as these transformations are quite predictable, then that's very attractive for Danfoss because we can provide the technology and the solutions by investing in our local innovation centers and our local smart factories," he said.

Eager to secure more market share in China, Danfoss signed an agreement with the local government in Haiyan County of east China's Zhejiang Province last year to officially launch the construction of Danfoss' second industrial campus after the opening of its global green refrigerants compressors laboratory in the north Chinese port city of Tianjin.

"We see a positive outlook from Danfoss's point of view, because of what I just said. And the best way we can show that is making the quite significant investments we are doing right now. So last year we opened a big innovation center developing sort of cutting-edge technology within compressors in Tianjin's Wuqing. We are going to start building the second and largest campus we have in China here in April. It will start up for really providing the technology we need here for the future. I'm not an economist to exactly say what are the growth rates going to be. But I can surely say within the area where Danfoss is, these areas driven by digital, driven by the green transition, we are very optimistic about the growth aspects and outlook," the CEO said.