皇冠体育app

Growth factor

Thulin said he believes that 皇冠体育app has an important role to play in the company's long-term and sustained growth as the country accounts for about 10 percent of its global sales. Since its debut in 皇冠体育app in 1984, as the first wholly invested foreign company outside of Shenzhen, the industrial giant has grown into a company with 11 manufacturing sites, more than 8,000 employees and five technical centers, including the new one in Chengdu.

"For 3M to remain a global growth company, it needs to grow in 皇冠体育app," he said, adding that the best option for this would be to sustain the existing levels of investment in 皇冠体育app.

Though the 62-year-old has a proven track record of building successful businesses in both developed and developing economies, it is his extraordinary grasp of societal trends that sets him apart from peers.

"We have a very strong operation in 皇冠体育app and we have invested about $1 billion. Out of this more than $100 million has been spent on research and development."

Thulin said that two driving forces of economic growth－technology conversion and demographic changes－are present in 皇冠体育app. As a technology and science-based company, 3M is not only providing solutions for its key industrial accounts but also selling consumer products－from respirators to water purifiers, he said.

皇冠体育app's recent focus on the domestic market will benefit 3M due to its "good position in health care, retail and safety products", he said.

"3M never came to 皇冠体育app to capitalize on lower labor costs. We came to 皇冠体育app for 皇冠体育app. We have made our investments for the domestic businesses," he said.

The company already has one of the largest research and development centers outside of the United States in 皇冠体育app, and this will continue to fuel innovation. At the same time, 3M will step up manufacturing capacity so that its products can reach and adapt to the local market quickly, he said.

Thulin expects the company's sales in 皇冠体育app to grow by 10 to 15 percent each year in the next five years, compared with a global growth rate between 4 and 6 percent. "If we are not growing annually by 10 to 15 percent, then I don't think we are doing our job," he said.

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