GE aims at US$5 billion in purchase volume in China

Home>>Business

Last updated at: (Beijing Time) Wednesday, October 15, 2003

GE aims at US$5 billion in purchase volume in China

DISCUSSION

CHINESE

SEND TO FRIEND

General Electric (GE) is ambitious to upgrade both its purchase and sales volumes in China to 5 billion US dollars by 2005, says Tao Jun, GE's chief supervisor in charge of purchase business in China.

Tao said at China's second international forum on enterprise purchase that GE's purchase team in China had grown from 20 in 2000 to 40 last year, with the purchase volume rising from 70 million US dollars to 270 million US dollars. It had set up purchase offices in Beijing, Wuxi, Nanjing and Taiwan.

In 2002, GE had 300,000 employees globally and reported a gross profit of 15 billion US dollars, Tao said.

"GE doesn't confine its purchasing business to certain countries. We adopt the same standards, procedures and operation mechanisms to seek the best suppliers all over the world, so as to offer best services for its worldwide factories," Tao said.

He reminded Chinese firms wanting to be GE suppliers of the fierce competition from rivals not only in developed countries, including US, France and Japan, but also in Mexico, India and other developing countries.

"Suppliers will be more competitive if with a potential to lower prices annually. The product quality must be guaranteed and have sustainable competitiveness. GE, valuing enterprise credibility, may cut off cooperation for only one mistake," Tao said.

Despite the rigid standards, Tao told domestic enterprises that GE could bring considerable orders plus advanced management concepts to its suppliers.

GE mainly selected suppliers through on-line bidding. It has 13business sectors, including airplane engines, home appliances, insurance and media.

Questions?Comments? Click here

GE Sets up First China Joint Venture

GE Predicts 2005 China Sales of 5 Billion US Dollars

Chinese, US presidents to meet in Bangkok ( 2 Messages)

Activists sail to Diaoyu Islands to proclaim sovereignty ( 5 Messages)

When will Nobel dream come true for China? ( 10 Messages)

US, don't be doubtful of everything: commentary ( 5 Messages)

China to launch manned space flight on Oct. 15 ( 33 Messages)