ABB CEO says no plans to scale back China investments

Logo of ABB is seen in Zurich

ZURICH (Reuters) – ABB is still confident about the Chinese market despite a weaker than expected post-COVID recovery and does not plan to scale back its investments in the country, Chief Executive Bjorn Rosengren said on Thursday.

“We have big hopes about China from a long-term perspective, although in the short term we have not seen the development we would have hoped coming into the year coming out of COVID,” he told Reuters in an interview.

While some U.S. clients particularly were becoming more hesitant about investing in China because of geopolitical tensions between Washington and Beijing, this was not a factor for ABB, he added.

“Not at all,” Rosengren said when asked if ABB planned to scaled back its own investments in China.

(Reporting by John Revill; Editing by Tomasz Janowski)