The Swiss power and automation technology giant ABB snapped a two-year decline in orders in the fourth quarter last year, thanks to improvements in its US and China markets. But global uncertainties have left it unsure of maintaining the recovery.

There still are opportunities, though, and the biggest, in the point of view of CEO Ulrich Spiesshofer, is China’s domestic market, as it keeps growing. 

ABB is the No. 2 robotic company globally, and Spiesshofer believes the company will touch the top position in a few years, since the company has been making great efforts to innovate in new technology. Even more, Spiesshofer attributed the success in China to the investments in the research and development sector. 

“We have been strongly committed to the research and development in China,” Speisshofer told CGTN. 

He indicated that any company that wants to operate in China should see the importance of innovation and investing in research and development.

ABB has been hit in recent quarters by falling sales as oil, gas and utility customers have held back on investing in new products. 

The company has responded to the downturn by cutting costs and exiting low margin and risky projects such as construction and offshore wind generation. A slew of projects, worth 842 million US dollars, including one to provide a 1,800 km power link connecting southern and central India, also helped.