ZEISS CEO Maximilian Foerst Says China Remains a Major Market Essential for Global Success

Maximilian Foerst, the President and CEO of ZEISS Greater China, has expressed strong confidence in the Chinese market, emphasizing its significance for the German optics manufacturer. In the fiscal year 2022-2023, ZEISS reported a 22% revenue growth in China, reflecting the country's importance as a major market for the company.

Foerst highlighted that China's significance for ZEISS has remained consistent over time and continues to grow. He noted that China is expected to contribute more than 20% of global economic growth from 2023 to 2028, which is double the contribution of the U.S. economy. "China is a major market that is indispensable for the success of a global multinational company like ZEISS," Foerst stated.

The ZEISS CEO commended China's long-term development trajectory, including its investments in industrial upgrades, research and development, and innovation. He revealed that ZEISS is doubling down on its investments in China to benefit from the country's growing innovation. "ZEISS generates 80% of its business revenue and innovation outside of its borders," Foerst added, emphasizing the importance of being present with local researchers and partners to drive and benefit from the innovation happening in China.

Why this matters: ZEISS's strong performance and expanding presence in China underscore the country's role as a global innovation hub. As a leading optics manufacturer, ZEISS's investments in China reflect the growing opportunities for international companies to tap into the country's rapidly evolving market and technological advancements.

ZEISS has a strong manufacturing and supply chain presence in China, particularly in the Guangdong Greater Bay Area, where the company is fully integrating the concepts of Industry 4.0 to achieve a seamless manufacturing process. The company recently launched a new quality excellence center in Dongguan, China, which represents its largest investment among its counterparts in the country. ZEISS also has its regional headquarters, China Innovation and Research and Development Center in Shanghai, as well as a Suzhou Research and Development Center and manufacturing site in Jiangsu Province, and a Guangzhou Knowledge Manufacturing Base.

Foerst expressed optimism about the future of the Chinese market for ZEISS, highlighting the strong Sino-German cooperation and the company's commitment to investing in research and development in the country. With China's leading role in driving global innovation and its rapid market growth, ZEISS is well-positioned to leverage Industry 4.0 technologies and deliver customized products to customers in China and the region.

Key Takeaways

• ZEISS reported 22% revenue growth in China, a major market for the company.
• China is expected to contribute over 20% of global economic growth from 2023-2028.
• ZEISS is doubling down on investments in China to benefit from its innovation.
• ZEISS has a strong manufacturing and R&D presence in China, including Industry 4.0 integration.
• ZEISS is optimistic about the future of the Chinese market, citing Sino-German cooperation.