“Today, China represents 60% of the global market in new elevators and escalators. We’re now beginning to see a wave of modernization-- overhauling and modernizing the equipment that was installed maybe 15 to 20 years ago. Now, maintenance, quality, safety, all these things are becoming more and more important, and give rise to a strong service operation, modernization and renewal,” he added.

He introduced that since Schindler Group decided to make China one of its business centers, China has become its “second planet”. Schindler has been very active in infrastructure projects in China, like airports and metro lines. A number of the company’s customers in China over the last few years have expanded their business to other countries in Southeast Asia and Africa to participe in the “Belt and Road” initiative.

Escalator assembly line of China-Schindler Elevator Co., Ltd. [Photo/Xinhua News Agency]

Over the past 40 years, thanks to freedoms brought about by China's reform and opening up, the two sides of this joint venture have made great achievements in China by making progress through mutual cooperation and constant optimization of business decisions.