4. China has entered a new normal economic environment and the development of the energy-consuming auto sector calls for greener and more environmentally friendly products, so will Honeywell's future research work pay more attention to this aspect?
As China steps into the new normal, growth in the auto sector may not be as fast as that of past years, but will focus more on quality and efficiency.
Honeywell is a company devoted to long-term development in China, so we always take into consideration fuel savings and emission cuts when upgrading our latest technology.
Our turbo-charging technology has better dynamic power and can improve the vehicles' acceleration performance. It has been tested and its lifetime equals that of the engines.
5. Some passenger vehicles in China have used diesel, and vehicles with diesel have taken a considerate proportion of the European and U.S. markets. Can you make a brief introduction of this issue in China? What is the proportion of vehicles with diesel in the country?
In the European auto market, about 50 percent of vehicles are diesel, including Audi's Q5, Q7 versions and several Benz editions.
The proportion of passenger vehicles using diesel in China is not large, as diesel supply in the past was tight. But the situation is different now. With the increase in technology, diesel consumption by passenger vehicles is increasing and growing gasoline supply also promotes the supply of diesel in China.
Shanghai will promote the spread of diesel-drive taxis in the fourth quarter this year.
6. Now China is promoting electric vehicles in the country, will it be a challenge to your company's long-term development of the market?
I prefer not to call it a challenge. We support the promotion of new-energy vehicles and expect more new technology in this emerging sector. Our company also has its own technology and products on the new-energy vehicle sector.
7. What opportunities do you think the Belt and Road Initiative provides for your company's further development?
The Chinese government is expected to promote the infrastructure construction to a new level, and we see great opportunities in this initiative. Our business in Central Asia, Middle East and Southeast Asia will also be involved in the construction of Belt and Road initiatives.
8. Economic slowdown pressures have increased in China since the second half of 2014. During the first six months this year, GDP growth has fallen below 7 percent, while deflation pressures have risen in the manufacturing sector. Against this backdrop, what is your forecast for China's economy and what is the business development strategy?
With a total of $10 trillion, China is the world's second largest economy. The GDP growth speed of 7 percent can make a bigger cake than that of a growth speed of 10 percent of an economy with $4 trillion. China's 7 percent GDP growth is still a miracle for several countries.
China is Honeywell's best market in the world. The country has paid more attention to fresh air, clean water and food safety. Our turbo-charging technology can help the auto sector be more fuel efficient, cut emissions and help our end users increase their driving pleasure with the latest tech.
