Carrier Corporation, the world's No. 1 air conditioner supplier, on Friday pledged long-term investments in China's heating, ventilation and air conditioning (HVAC) industry, 20 years after its entry into the Chinese market.

China has witnessed rapid growth in its HVAC industry over the past decade, arresting the attention of the world's leading provider of heating, air conditioning and refrigeration solutions.

"China is definitely one of the biggest markets on the planet with great development potential," said Philippe Delpech, CEO of Carrier China, at a ceremony to celebrate the 20th anniversary of the company's operation in China.

"We are proud that we have taken considerable share in this vast market." added Delpech.

As the first US-based air conditioner producer to start operation in China, the company has so far injected an investment of 175 million US dollars in the country, owning 13 factories and more than 70 sales and service outlets.

Its products can be found in China's landmark buildings such asthe Great Hall of the People in Beijing and the Orient Pearl TV Tower in Shanghai.

In a bid to honor its promise of long-term investments, Carriermoved its China headquarters from Hong Kong to Shanghai this year.

According to company sources, Carrier plans to invest 50 million US dollars in the Chinese market in the coming five years.

The global annual sales of HVAC products is nearly 56 billion US dollars. China alone contributes 6 billion out of the 19 billion US dollars at the Asian market, according to Delpech.

"China's HVAC industry is expected to maintain strong and steady growth in the next ten years. Carrier will continue to makelong-term investment here to ensure the leading role in this market," he said. Enditem.

Source China View