Siemens to 'defend market share' in China, says CEO Busch

German industry giant secures stake in China despite Berlin derisking push

Roland Busch, CEO of Siemens, speaks to Nikkei in late October: Despite tensions, the German industrial company hopes to maintain its vital China business. (Photo by Shogo Akagawa)

SHOGO AKAGAWA, Nikkei editor-in-chief for Europe, Middle East and Africa

November 13, 2024 10:40 JST

LONDON -- German industrial giant Siemens will "defend its market share" in the crucial China market despite Berlin's push to reduce the country's economic reliance on China, said Ronald Busch, Siemens' President and CEO, in a recent interview with Nikkei.

The reelection of Donald Trump as U.S. president may intensify U.S.-China tensions, and the German government is pursuing its derisking strategy with China. However, Busch expressed a commitment to maintaining a certain scale of business in the country.