Since its launch in 2000, CDF have upheld its mandate of “Engaging with the world for common prosperity”.

At present, the economic recovery is still fragile, and the impact of the COVID-19 and geopolitical crisis is continuing. Although China’s economic recovery is improving, lackluster demand, slow recovery in labor market and global supply chain adjustments and other pressures are still present.

The world is experiencing unprecedented change, how do foreign enterprises in China view China's development? How can foreign enterprises grasp the opportunities and challenges in the Chinese market? What insights do they have about China's future economic recovery and social development?

As the 2023 annual meeting of the China Development Forum is about to be held, the "CDF Voice" column invites representatives of global enterprises to discuss the above topics.

The guest of CDF Voice today is Dr. Stefan Hartung，Chairman of the Board of Management at Bosch.

Ladies and gentlemen, I'm Stefan Hartung, and I'm excited to attend the 2023 China Development Forum.

This year will be a year of restart and recovery, yet challenges persist.

Over the past decades, China has made significant progress in infrastructure, technology, and urbanization, contributing substantially to the global economy. And China will be a key driving force for the recovery of the world economy after its current slowdown. The country's modernization offers many opportunities that can benefit the world, particularly in sustainable development.

At Bosch, we believe that sustainability and innovation are not mutually exclusive. The aim of our investments in innovative key areas such as mobility electrification, fuel cell technology, and smart manufacturing, is to achieve sustainable growth, and to help overcome present challenges.

As a witness and active contributor to China's opening and development, Bosch has experienced rapid growth here over the past decade. The country's economic progress, strong consumer demand, and favorable business environment have enabled Bosch sales in China to soar from 37 billion Chinese Yuan in 2010 to some 132 billion in 2022. This is a remarkable 3.5 fold increase which accounts for approximately 20 percent of the Bosch Group's total sales.

Our long-term localization strategy, innovative strength, and global network, as well as the hard work of over 55,000 associates in China, have allowed us to respond to local market demands quickly and create valuable products. By that, we hope to take advantage of the opportunities brought by modernization in China.

Bosch is committed to supporting China’s ‘high quality’ development and sustainable innovation. As the world's largest automotive market, China's rapid development of new energy vehicles is key to achieving dual carbon objectives. As an auto supplier, Bosch can provide leading and diverse electrification solutions for passenger and commercial vehicles, including hydrogen fuel cell technology, e-Axle, iBooster, and more.

Bosch recently announced investments of seven billion Chinese Yuan in Suzhou, for production and R&D of solutions for electromobility and automated driving, fully supporting the forefront development of China's electrified and connected mobility.

Bosch hopes to collaborate with Chinese industry partners to pursue a low-carbon manufacturing transformation and green development based on carbon-neutral technologies as well as own practical experience accumulated in its 440 locations worldwide. We have three lighthouse plants located in Suzhou, Wuxi, and Changsha that can support local manufacturing in different regional industrial clusters.

Bosch believes in open communication and cooperation to create a more sustainable and prosperous future for everyone. The China Development Forum is an excellent opportunity to facilitate global cooperation and international exchange. I cannot wait to see you there and discuss the future together. Thank you!