The shrinking global economy means companies now need to make changes. Amid speculations that foreign companies are being advised to pull out and relocate their business out of China, Johnson Controls, a leading U.S. company in building technology solutions, says they are rather committed to the Chinese market.

"Under the current situation, what we're thinking is how to further intensify our investment in China rather than considering to move out," says Michael Zhu, general manager of Johnson Controls China, during an interview with CGTN.

Despite being hit by the pandemic, Johnson Controls says its business in China is now on a healthy recovery path, with a positive year-on-year growth predicted. This, according to the company, is thanks to the strong and powerful measures by the Chinese government to contain COVID-19.

With 25 years of presence in China, Zhu says Johnson Controls has already established a solid local supply chain and disruptions for imported materials now mainly come from North America and Europe. The firm's export business is also impacted, as approximately 30 percent of the products manufactured in China are sold to other countries.

"For the short term, we do see that our export business will be impacted. But in the mid and long term, I still believe that with a strong initiative from the central government, for the One Belt One Road project, Johnson Controls will continue to benefit from this. So I'm still having a very positive outlook for our export business in the long run," says Zhu. 

When it comes to the future investment plan in China, Zhu says the central government's push for digital infrastructure such as 5G network and data centers is also providing fresh opportunities for his company.