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DR. Michael Fübi, Chairman of the Executive Board of TÜV Rheinland Group, cited Shenzhen’s rapid growth and technological advancements as key factors in his company’s strategic decision to open a new hub in the city.

The company established its Shenzhen office 29 years ago. Reflecting on the company’s longstanding presence in the city, Dr. Fübi noted the continuous evolution of the city’s tech landscape and the substantial demand for services driven by the burgeoning tech industry.

“There are so many tech companies in Shenzhen, so many world-leading tech companies that we expect there would be further growth and further demand for our services, and that’s why we need to have more space,” he said.

Highlighting the city’s pivotal role as a technological hub within the Guangdong-Hong Kong-Macao Greater Bay Area, Dr. Fübi commended the transition of some local companies into global technology leaders. “I have visited many clients here who started their businesses 20 or 30 years ago. They have been technology followers, then technology challengers, and now are global technology leaders,“ he said.

Reflecting on his many visits to Shenzhen over the years, Dr. Fübi acknowledged the city’s rapid evolution and constant transformation, noting how new infrastructure continuously reshapes its landscape. “What I recognize in the city is that, whenever I’m coming, it’s changing,” he said.

Talking about the recent European Union decision to impose a significant amount of tariffs on Chinese EVs, Dr. Fübi said he didn’t see any significant impact on his company’s business so far. “For the time being, we don’t see any impact of it because the cars, which are good and following European regulation to be ready to get imported, are not stopped right now,” he said.

Expressing unwavering confidence in China’s progress, Dr. Fübi highlighted the company’s recent investments, including the establishment of an operation hub in the Yangtze River Delta.

The chairman said the company not only keeps investing in building up new facilities and new labs, but also in people. The company started its Chinese mainland business in Shanghai 35 years ago with five people coming from Germany.

“Today, there are still a handful of Germans, but we have 5,500 Chinese colleagues working for us in the region,” he said.

He acknowledged the evolving consumer preferences in China, emphasizing a notable shift towards considerations of usability and sustainability in product choices. “Initially, functionality was the primary focus, but consumer demands have evolved to prioritize usability and sustainability,” he noted.

“We have put sustainability on the focus of our action. And when we talk about sustainability, we talk about not just the sustainability of us... but particularly also developing services,” he said.