General Electric (China) Ltd to Increase Local Procurement

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Last updated at: (Beijing Time) Thursday, August 29, 2002

General Electric (China) Ltd to Increase Local Procurement

General Electric (China) Ltd. plans to increase its local procurement and, by the year of 2005, its annual amount of procurement from China will amount to 5 billion US dollars.

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General Electric (China) Ltd. plans to increase its local procurement and, by the year of 2005, its annual amount of procurement from China will amount to 5 billion US dollars.

That was announced Thursday by F.L Leow, president of GE Hydro Asia Pacific and Country Executive of GE Power Systems China, who is attending a fair on promoting manufacturing equipment held in Shenyang, capital of northeastern Liaoning Province.

F.L Leow said the equipment procured will range from medical systems, lighting, power systems, aircraft engines, to transportation systems and will be used in the construction of projects worldwide.

GE, which was placed ninth among the world's top 500 companies in 2001, began trading with China in back 1910. GE (China) Ltd wasset up in 1994. At first, the company mostly sold commodities to the Chinese market.

GE began to turn China into one of its global procurement bases in the late 1990s. By now, GE's equipment suppliers, mostly state and medium-sized enterprises, are distributed in 21 of China's provinces and municipalities.

China is currently the fourth in the world in terms of the added value of equipment manufacturing industry. As well as improving China's manufacturing technologies, more and more multinationals have been strengthening China's position by their respective global procurement strategies.

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