More businesses from Europe aspire to tap greater Chinese market potential, by ramping up innovation levels

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(Global Times) 09:26, June 09, 2025

According to Yin, the new quality productive forces are driven by innovation, which not only supports the emerging industries but also empowers traditional industries to upgrade. Traditional industries form the foundation for emerging sectors, which in turn facilitate the upgrading of traditional sectors. "The joint development of both will better accelerate the formation of new quality productive forces", he said.

"The engine of innovation is technology, and its value lies not only in laboratories but also in the real-world applications." Yin added. "To support the trend, Schneider Electric has been heavily invested in R&D in China and implementing advanced digital and green technologies across various industries for efficiency and sustainability."

In March this year, German life sciences company Bayer launched the Bayer E-Town Open Innovation Center located in Beijing Economic Development Zone, which is the first innovation center deployed by Bayer Healthcare Corp in China. The center aims to build a world-leading proof-of-concept and clinical trial data platform, introduce innovative drugs in the fields of cardiovascular disease and oncology, and promote innovative solutions in the fields of women's health and ophthalmic diseases.

In January, the Bayer Crop Science Hangzhou Production Site and Crop Efficiency Launch Event were inaugurated in Hangzhou, Zhejiang Province. Located in the Linjiang High-tech Park of Qiantang District, focuses on the production and packaging of various formulations, including fungicides, insecticides, seed treatments, and plant growth regulators.

The company said it will continue supporting China's agricultural development. China's ongoing opening-up efforts have injected stability into the global economy, making it a hub of certainty and a hot spot for investment and entrepreneurship.