US industrial conglomerate Honeywell International Inc is planning to further accelerate its core business in China in the next 10 years, including digital economy, refinery and aerospace, to capitalize on its solid business foundation in the country during the last 15 years.
China has long been a second home for Honeywell and the company raked in revenue of $2.9 billion in 2017, a year-on-year growth of 25 percent, said Shane Tedjarati, president for Honeywell's Global High Growth Regions, which includes China.
"Honeywell has witnessed rapid development in China over the past decade and the country has become one of its largest markets outside the US since 2013. Last year Honeywell achieved 25 percent year-on-year growth in China," said Tedjarati.
"Looking forward to the next decade, Honeywell's strategies are well aligned with China's national agenda, including digital economy, beautiful China, and so on."
Honeywell will also strive for more innovation in its core businesses, including petrochemicals, refineries and aerospace, he said in Beijing on Tuesday.