(Yicai) Nov. 18 -- Trane Technologies will maintain its strategy of "In China, for China, and for the world" despite changes in the external environment, according to executives of the American-Irish heating, ventilation, and air conditioning giant.

Trane remains optimistic about long-term opportunities in the local market, Asia-Pacific executives told Yicai in recent interviews. The Ireland-headquartered company manufactures air conditioning equipment, thermostats, and furnaces under the Trane brand, and also owns Thermo King, a provider of transport refrigeration and heating systems.

Thermo King recently opened a new Asia Pacific flagship factory in Jiangsu province's Wujiang. The plant, which cost an investment of almost CNY300 million (USD41.5 million), will not only provide products to the domestic market but also serve other markets such as Japan, South Korea, Australia, New Zealand, and India, Michael Wu, vice president for operations and integrated supply chain at Trane Asia Pacific told Yicai.

Ling Han, VP at Trane in Asia Pacific, highlighted Thermo King’s robust growth potential in the region. With the new factory in China, Trane aims to increase capacity, reduce delivery times, enhance service capabilities across the Asia-Pacific, and improve internal operational efficiency, Ling added.

China accounted for about one-quarter of the global cold chain market last year. Regardless of external challenges, Trane is committed to achieving sustained growth in China, Wu said, adding that the company plans to deepen its focus on local development while increasing investment in the region.

It would be difficult for any single country to replicate China’s supply chain, competitiveness, and industrial ecosystem, Wu said, adding that China’s status as a global manufacturing center will remain intact despite external fluctuations.

Trane currently operates four manufacturing bases and one research and development center in China. Trane’s Asia-Pacific R&D center, established 21 years ago, is one of the company’s three major global R&D facilities, per Wu. The center has contributed nearly half of Trane’s product patents worldwide, generating 50 to 60 patent applications annually over the past five years, he concluded.

Editors: Tang Shihua, Emmi Laine