CBN丨Summer Davos attendees optimistic over China's prospects

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Industry representatives and experts from around the world showed strong interest in the booming opportunities within China's rapidly advancing technology industries during the ongoing Summer Davos, especially in areas like artificial intelligence (AI) and new-energy vehicles (NEVs).

Belgian multinational materials company Syensqo CEO Ilham Kadri has expressed strong optimism about the Chinese market during an interview with the 21st Century Business Herald.

“We were early to integrate generative AI into our innovation processes, sales channels, and Syensqo's proprietary SyGPT. Our Chinese OEM partners and local employees were among the first to use generative AI in daily operations. This, I believe, shows Chinese people's mindset and execution towards innovation,” said Kadri, who is also Co-chair of the Summer Davos.

Kadri noted that Europe is actively attracting Chinese enterprises to localize technologies. Syensqo aims not only to expand its presence in China's domestic market but also to partner with Chinese companies going global, particularly leading players in the electric vehicle industry, Kadri said.

In 2024, Syensqo and Nio announced the establishment of a joint laboratory to research and develop lightweight materials and battery technologies. To meet China's growing demand for EVs, the partners have doubled the production capacity of their joint factory in Jiangsu province since 2022, media reported.

"China contributed about 15 percent in our revenue in the global market, which has the potential to double in size,” Kadri said, adding that Asia-Pacific outperformed other regions.

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