"When China recovers, we recover with it": Honeywell key executive

"When China recovers, we recover with it. So for us, as a very, very local and entrenched multinational company operating in China, recovery of China is a great story for us," said Shane Tedjarati, president of Honeywell Global High Growth Regions.

He said Honeywell's business in China began to recover in the second quarter of this year, and is expected to perform better in the second half of the year.

According to Tedjarati, China's economic recovery is largely because the country has taken some very decisive containment steps, and effectively put the disease under control.

Currently, Honeywell has over 50 wholly-owned enterprises and joint ventures in more than 30 cities across China, including 21 plants.