China's energy transition brings more market opportunities: Thyssenkrupp CEO

This photo taken on Nov. 2, 2022 shows the exhibition booth of Thyssenkrupp AG, a German steel producer company, in the main venue of the upcoming fifth China International Import Expo (CIIE) in east China's Shanghai.  (Xinhua/Fang Zhe)

SHANGHAI, Oct. 16 (Xinhua) -- China's high-quality development and dual carbon goals will bring more market opportunities and drive sound economic development, said Miguel Lopez, CEO of Thyssenkrupp AG, in an interview with Xinhua on Sunday during the 2023 International Business Leaders' Advisory Council for the Mayor of Shanghai (IBLAC).

The event drew a total of 30 entrepreneurs from leading multinationals, with Miguel Lopez, CEO of Thyssenkrupp AG, being one of them.

"As an important window of China's opening up, Shanghai attracts outstanding enterprises and talents from the world and is recognized as a glamorous and dynamic international metropolis," he said.

In his view, through the platform of IBLAC, multinational corporations can better understand the strategic direction and planning of Shanghai's development.

"We can share feedback and suggestions based on our operation to support government decision-makers in further optimizing the business environment," he said.

Miguel Lopez said that China is one of the important overseas markets for Thyssenkrupp, especially thanks to the fast-growing automotive and wind power industries, and their automotive technology and bearing businesses in China are seeing good development.

According to him, Thyssenkrupp has positioned green transformation as one of the three priorities and looks forward to contributing to the upgrading and green development of China's industries in areas including wind energy and green hydrogen in the future.

Last year, Thyssenkrupp signed several Memorandums of Understanding (MoUs) with a number of Chinese enterprises, in joint efforts to boost collaboration along the hydrogen industrial chain in the future.

Green hydrogen will play an important role in the future energy transition, and China's green hydrogen market is emerging. That's why our professional team based in Shanghai is scaling up, exploring paths to meet local market demand and seeking more cooperation opportunities, said Miguel Lopez.