(Yicai Global) Nov. 9 -- Denmark’s Grundfos, Sweden’s Volvo Construction Equipment and many other multinational equipment makers with China operations have done better in the first three quarters than during the whole of last year, despite the impact of the Covid-19 pandemic. This is largely thanks to supportive national policies such as the 'Belt and Road,' 'New Infrastructure' and 'Poverty Alleviation.'

Danish pump manufacturer Grundfos’ China sales in the first nine months eclipsed last year’s turnover of CNY3 billion (USD454.8 million), Grundfos China President John Markmann told Yicai Global.

By March, business was back to normal, Markmann said. And by July it had reached double-digit growth with a 30 percent increase in orders, the second-best monthly sales results ever in the 25 years that the firm has been in the country.

Volvo Construction’s performance in the nine months ended Sept. 30 exceeded that of the whole of last year, said Tomas Kuta, president of the Gothenburg-based company’s Asia sales region. Its China business did suffer in the first quarter but quickly recovered in the second and third quarters, even more than expected, he added.

Better Opportunities

"We consider the China International Import Expo to be one of the most important and top-notch exhibitions in China,” Markmann said. It sends the message to foreign companies like Grundfos that China will continue to open up, increase imports, improve its business environment and promote international trade. This boosts our confidence in expanding investment in China, he added.

Volvo Construction moved its Asia headquarters to Shanghai’s Pudong New Area from Singapore in April. It is now one of the firm’s three core head offices that manages over half of its global business.

Bjerringbro-based Grundfos is also planning to relocate the global headquarters of its commercial building business to Shanghai.

"China is leading the world in innovation and digitalization,” Markmann said. And advanced manufacturing, artificial intelligence, fifth-generation network and other technologies are leading the world, he added.

"China's economy cherishes sustainable development more and more, and customers are keen on high-quality and efficient products," he said.

This is Kuta’s second attendance at the CIIE. The CIIE is a good platform to communicate with big customers, he said. Volvo China Investment has already signed up to participate in the next three expos, he added.

Editors: Chen Juan, Kim Taylor