Business in China | Baker Hughes: Chinese market highly attractive, competitive

BEIJING - In an exclusive interview with Guangming Online, Cao Yang, Vice-president of Baker Hughes and President of Baker Hughes China, elaborated on the unique opportunities that China offers to multinational corporations.

China's growing market and competitive environment are essential for Baker Hughes’ business, Cao stated. Despite headwinds linked to geopolitical tensions and pandemic impact, Baker Hughes has increased its local procurement over the past five years, benefiting from China's robust manufacturing and supply chain capabilities.

Cao emphasized the importance of collaborating with local companies to co-develop new technologies and stay competitive in China's rapidly innovating market. Amid global restructuring, Baker Hughes remains committed to China, focusing on strategic investments in new growth areas such as carbon capture and storage (CCS) technologies.

For Baker Hughes, China represents a significant opportunity driven by energy demand, manufacturing prowess, and relentless innovation, aiming to enhance competitiveness and foster sustainable growth.