Canon to expand footprint in China with stronger local ties

Visitors check out Canon products while performers wearing traditional Chinese apparel stage a performance during a camera expo in Beijing on Friday. Japanese tech company Canon Inc will intensify efforts to deepen cooperation with its Chinese partners and further tap the immense potential of China's consumer market, given that new business opportunities brought by technological innovation are arising in the world's second-largest economy, said a senior company executive. "China serves as one of the most important markets in Canon's global business layout, and we have set the goal of making Canon China No 1 in terms of sales within the whole group by 2035," said Howard Ozawa, executive vice-president of Canon, and president and CEO of Canon China. "Canon is confident in the continuous improvement of China's business environment and huge development potential of the Chinese market," Ozawa said, adding that the company will continue to collaborate with local partners to develop, produce and offer products and services that are tailor-made for the Chinese market in response to consumers' evolving needs. As for the United States and some European countries recently claiming China's "overcapacity" in the new energy sector, Ozawa said he did not agree with the allegation as different countries are at various stages of development, and some Western countries might be jealous of China's meteoric rise in some emerging industries.