Canon is doubling down on its long-term commitment to China, with senior executives expressing confidence in the country’s economic prospects, policy direction and the growing role of artificial intelligence in driving future growth.

Canon (China) aims to make its business the No 1 within Canon group by 2035, surpassing markets including Japan, the United States and Europe, said Hideki Ozawa, executive vice-president of Canon Inc, chairman and CEO of Canon (China) Co Ltd, during a media briefing in Beijing on April 15.

The goal forms part of the company’s three-stage midterm plan covering 2021 to 2035, with the second five-year phase kicking off in 2026, Ozawa said, adding that strengthening both regional and business strategies will be key to accelerating growth in the highly competitive Chinese market.

To support this ambition, Mikio Takagi, president and COO of Canon (China) Co Ltd, who assumed his new role on April 1, will focus on operational execution, helping improve efficiency and speed up implementation of the company’s strategy.

Executives highlighted China’s vast market scale and dynamic demand as major advantages. Takagi, who returned to China after working in Japan for four years and across the Americas for nearly fourteen years, said the country’s market holds “tremendous potential” despite intense competition, noting that differences in business practices and consumption patterns require tailored strategies.

China’s economic transition is also creating new opportunities, particularly as growth shifts from hardware-driven expansion to rising demand for content and services, Takagi said, adding that Canon’s strengths in imaging and workflow solutions position it well to capture these trends.

Ozawa said he closely follows China’s policy agenda, including efforts to boost domestic demand, expand high-level opening-up and advance technological innovation, all of which he described as “very helpful” for foreign-invested enterprises.

He added that Canon plans to step up its presence in the Guangdong-Hong Kong-Macao Greater Bay Area, aligning with the government’s push to build it into a globally influential innovation hub, and expects improved business and investment conditions to further support its development.

Artificial intelligence is emerging as one of the key enablers across Canon’s operations. Takagi said AI is already being applied in research, development and manufacturing to enhance efficiency and product quality, with further applications planned in sales and customer solutions.

By leveraging data on customer industries and working environments, Canon aims to use AI to deliver more tailored recommendations and optimize workflows, and tackle the real-world challenges and problems faced by our users, he said.

At the same time, the company is accelerating localization efforts, including expanding domestic supply chains and concentrating production in China to better respond to market demand, Ozawa said.