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Lindsay Harvey's plan in China
By Wang Yu (China Daily)
Updated: 2008-05-26 11:10 Experiencing reform
This year marks the 30th anniversary since China adopted the market-oriented economic reform and the opening-up policy. As early birds to enter the Chinese market and to cash in from the policy, multinationals have a lot to share with their peers and competitors in terms of experience and Otis is one of them. An obvious change observed by Harvey from the start of China's market-reform, is that instead of buying western-patented technologies, Chinese companies are offering increasing ideas and Intellectual Property Right (IPR) technologies to foreign counterparts. Otis has entered into a partnership with Shenyang Blue Light to form an R&D-oriented joint venture focusing on machine development and production. "Technology transfer used to carry more importance from foreign countries to China. Now it seems that more ideas are generated from China," Harvey says. OTIS will expand in similar operations as Shenyang's. Binhai New Area In Harvey's eyes, the development of the Tianjin Binhai New Area will offer golden business development chances for Otis and vice versa. The business opportunities will lie in manufacturing, sales operation, field operation and post-sale service. It is expected that there will be a 27 percent investment increase from Tianjin's real estate market. Otis' parent Company, United Technologies Corporation is planning to offer products and solutions for a new "eco-city" planned in the Binhai New Area. Products will include not only energy-efficient elevators, but also other green product and solutions, such as air-conditioning, heating and refrigeration equipments, building management and security systems. (For more biz stories, please visit Industries)
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