Xylem Inc, a United States-based water technology provider and a four-time participant at the annual China International Import Expo (CIIE), will put a new innovation center into operation in Shanghai next year to further tap the potential of the Chinese market, said a senior executive.

With China setting the goals of striving to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060, its companies, especially those from the manufacturing sector, are undergoing a dual transformation toward digitalization and sustainability to boost production efficiency and save energy costs, said Lyu Shuping, president for China and North Asia at Xylem.

"This has raised the emerging need for innovative, green and digital solutions, and has brought numerous opportunities for Xylem to further develop in the country," she said, adding many manufacturing businesses and sewage treatment plants still rely on manual experience to set various parameters and control the entire process in China, leaving huge potential for digital upgrading and energy-saving.

With a market presence in more than 150 countries and regions, the company's products and services move, treat, analyze, monitor and return water to the environment in public utility, industrial, residential and commercial building service settings, as well as water conservancy.

The CIIE offers a high-standard platform for companies and countries to explore business opportunities and strengthen economic cooperation and trade despite challenges and uncertainties, said Lyu.

"Xylem will continue to develop local expertise, especially in areas such as digitalization and green product manufacturing, and market expansion in lower-tier cities and rural areas," she noted.

Through its participation in previous CIIEs, the Washington DC-headquartered company has successfully converted a number of exhibits into traded goods after taking part in the grand event. It currently runs offices in 12 cities, four manufacturing bases in Beijing, Shenyang, Liaoning province, Nanjing, Jiangsu province and Fuzhou Fujian province, as well as 54 service outlets across China.

Pushed by China's industrial and green energy upgrading, a growing number of global companies will continue to deploy innovative digital capabilities and cross-industry expertise in the country in the years ahead, said Zhang Yongjun, a researcher at Beijing-based China Center for International Economic Exchanges.