Takehito Soeda, Vice President of Sony China. [Photo provided to chinadaily.com.cn]
Japanese consumer electronics company Sony Group Corp will step up efforts to expand its presence in China through technological innovation as it bets on the entertainment sector to further tap the huge growth potential of the world’s second-largest economy, a senior official said. Sony CEO.
Sony has been steadily increasing its investment in China, with its businesses spanning electronics, film and television, music, games and animation, said Takehito Soeda, vice president of Sony China, adding that he was optimistic about the development prospects and huge potential of the Chinese market.
He stressed that China plays a very important role in global industrial and supply chains, given the country’s super-large market and comprehensive industrial chain system. “In addition to manufacturing, we also have an R&D and service structure in China.”
Sony has witnessed China’s reforms and opening up over the past few decades, Soeda said, noting that China has made remarkable achievements in economic growth and in recent years has announced a series of new measures to promote digitalization and technological innovation.
“We have paid close attention to China’s rapid artificial intelligence and 5G technology development and its twin carbon goals – peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060 – which largely coincides with our development goals “, he said, adding that sustainable development has become one of the most important engines driving China’s economic growth.
Sony has always attached great importance to the Chinese market, which is of great importance in the company’s global layout. The company will strengthen its cooperation with local partners and the cultivation of local talents, as well as contribute to the optimization and upgrading of China’s industrial structure, according to the company.
How to use cutting-edge digital technologies to promote the high-quality development of industries represents a new opportunity for the company’s future development, Soeda said.
Sony is also betting heavily on the entertainment business in China, hoping to integrate Chinese cultural products with their foreign counterparts and build a bridge for entertainment and cultural exchange between China and the rest of the world, he added, expecting more policies aimed at the entertainment segment to be introduced. in China.
It has established a virtual cinematography studio in Shanghai, cooperating with Chinese partners, providing crystal light emitting diode (LED) display systems, professional cameras and monitors. Soeda said the company wants to bring more global cutting-edge technologies, applications and the latest products to China.
In addition, China’s efforts to develop strategic emerging industries will inject new impetus into the high-quality development of the country’s economy and provide new opportunities for multinational corporations to develop in China, the company said.
At the upcoming sixth China International Import Expo in Shanghai in early November, Sony will showcase its latest innovative technologies and achievements in the field of sustainable development, such as environmental protection, public welfare and affordability.
Foreign direct investment used in the manufacturing sector in the first three quarters of this year rose 2.4 percent year-on-year, with FDI in high-tech manufacturing up 12.8 percent, according to the Commerce Department.
“China’s huge consumer market attracts a huge volume of foreign investment,” said Zhang Jianping, director general of the Beijing-based China Center for Regional Economic Cooperation, adding that China’s new measures to increase foreign investment inflows showed the country’s determination to opening.
He said China will be more attractive to foreign companies, especially those in the manufacturing and producer services sectors, given China’s drive to remove all restrictions on foreign investment access in the manufacturing sector and optimize its business environment .
In August, China issued a 24-point guideline to attract more global capital. The government’s commitment to improving the foreign investment environment includes six key areas, including ensuring the effective use of foreign investment and ensuring equal treatment of foreign investment and domestic enterprises.
