Emerson President Attends 2011 International Consultative Conference in Guangdong
Proposes strategies and plans to encourage technology innovation, strengthen key industries and accelerate economic transformation
Guangzhou, GUANGDONG (November 14, 2011) – Today at the International Consultative Conference on the Future Economic Development (ICCFED) of Guangdong Province 2011, Edward L. Monser, president and chief operating officer of Emerson (NYSE: EMR) discussed ways businesses can support technology innovation and industrial transformation in the province. Monser met Zhu Xiaodan, acting governor of Guangdong, to discuss business opportunities and the company’s strategies in the province. Also present at the event were Sara Yang Bosco, president of Emerson Asia Pacific and Dadong Zhao, general manager of Emerson China.
“While sovereign debt issues in Europe have created turmoil in financial markets and the economy, China and other emerging markets continue to be the bright spots,” said Monser. “The Chinese government has endeavored to address the numerous challenges ahead in its latest five-year plan. We believe that investments in technology, the adoption of environmentally responsible initiatives, strong support for the education system and a good infrastructure are key ingredients in Guangdong and China’s long-term economic development.”
Guangdong, a key market and operational base for Emerson, plays a strategic role in the company’s Asia Pacific blueprint. In his speech focused on “promoting innovation cooperation in an open environment”, Monser expressed appreciation for the Guangdong government’s support and its favorable policies to make the province a prime destination for foreign direct investment (FDI) in China. He said he expects Emerson’s operations in Guangdong to grow and continually strive to better serve the needs of customers in China and Asia Pacific.
In his speech, Monser discussed the opportunities and challenges for Guangdong’s economic transformation and development. He offered five recommendations to the government:
· Strengthen business ecosystems through favorable policies to attract corporations to establish regional and global R&D centers in Guangdong
· Provide incentives to attract and retain talent
· Further improve government efficiency to lower businesses operational costs
· Invest more human resources to support intellectual property enforcement
· Encourage corporations to collaborate with universities on a regular basis
Emerson has manufacturing facilities and engineering and development centers in Shenzhen, Jiangmen, Zhongshan and Luoding. The company’s Asia Pacific Supply Chain also has an office in Shenzhen to support its procurement operation in China and across the region.
China has been among the fastest-developing regions for Emerson’s businesses. Since 2002, China has been the second largest market for the company, after the United States. Emerson began marketing in China in the late 1970s with a technology transfer program. Today, Emerson has more than 40 legal entities in China, over 30 of which are manufacturing facilities, located in 16 cities including Shanghai, Beijing, Nanjing and Suzhou. Emerson focuses on driving continuous technology and engineering innovation. To meet the needs of Chinese, Asian and global customers and support continuous innovation, Emerson has also established 18 engineering centers in various locations in China.
Held every two years since 1999, ICCFED is a high-level international conference where the governor of Guangdong and his economic advisors discuss the roadmap of Guangdong's economic and social development. Executives from Fortune 500 companies are invited to contribute their insights to sustain the province’s competitive edge and accelerate its economic transformation.
About Emerson
Emerson (NYSE: EMR), based in St. Louis, Missouri (USA), is a global leader in bringing technology and engineering together to provide innovative solutions for customers in industrial, commercial, and consumer markets through its network power, process management, industrial automation, climate technologies, and tools and storage businesses. Sales in fiscal 2011 were $24.2 billion. For more information, visit www.Emerson.com.
