SHANGHAI, Nov. 4 (Xinhua) -- Siemens is confident of China's economic resilience and growth, Lothar Herrmann, President and CEO of Siemens Greater China has said. The German technology giant is participating in the China International Import Expo (CIIE) in Shanghai for the third time.

Siemens will participate in the third CIIE to showcase its achievements in the fields of digital enterprise, smart infrastructure, intelligent mobility and Industrial Internet.

The company plans to deepen cooperation with Chinese companies by signing agreements in a number of industries. In addition, Siemens Energy and Siemens Healthineers as independent companies will showcase their innovative products, technologies, solutions and applications in the fields of energy and healthcare respectively.

OVERCOMING DIFFICULTIES

China has effectively contained the COVID-19 pandemic, said Herrmann. "And the economic and social life here is getting back to normal."

"Through the test of the pandemic, we believe enterprises should seek innovations that really work for people -- innovations that are more affordable, human-centered and socially sustainable," added Herrmann.

He believes more opportunities for partnership will arise for international companies as China's reform and opening up deepens.

Despite the impact of Covid-19, Siemens has delivered robust performance in China. "As China's economy continues to show great resilience and growth potential, we are confident of our future development in the country," said Herrmann.

UNSTOPPABLE DIGITALIZATION

Digital technologies enable faster innovation, intelligent manufacturing and smart cities as a new driving force of quality development worldwide, said Herrmann. The scale and demand of China's market form a solid foundation for its digital economy, and Chinese enterprises are particularly passionate about embracing digital technologies, he said.

At the same time, the company is continuously exploring cutting-edge technologies such as artificial intelligence, cloud technology, edge computing, 5G and additive manufacturing to further unleash the boundless potential of digitization.

In China, Siemens has implemented Digital Enterprise solutions for hundreds of industrial enterprises, while its cloud-based open IoT operating system MindSphere is serving over 100 industrial firms.

"We believe that a vigorous digital economy will inject new impetus into the country's high-quality and sustainable development and improve the efficiency and resilience of its economy," said Herrmann.

MORE OPPORTUNITIES WITH NEW DEVELOPMENT PATTERN

Based on the changes in its development conditions and demand for long-term quality growth, China proposed a new development pattern of "dual circulation" where domestic and foreign markets boost each other with the domestic market as the mainstay.

Herrmann said the new development pattern is a rational and effective way to catalyze economic recovery, and achieve more robust and resilient development in a changing global environment.

"Only with a well-developed domestic economy can a country actively participate in the international economic arena and benefit from the integration and complementarity between both markets," he said.

Moreover, openness is a boon for an economy and will let it overcome the crisis faster. He believes that no country or enterprise can do this alone. "We need to establish an open ecosystem to co-create for our common good."

For Siemens, China is the second largest overseas market and an unparalleled research and development base.

In 2013, Siemens built its first digital factory outside Germany in Chengdu, southwest China's Sichuan Province. Early next year, a new digital factory in Nanjing, east China's Jiangsu Province, embodying the concept of "Industry 4.0," will start operations.

Operating in China for nearly 150 years, Siemens believes the country's continued opening-up will have a positive impact on recovery and development of the global economy.