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Last updated at: (Beijing Time) Friday, October 24, 2003

GE sees China global production center

General Electric (GE) has announced that it will make China its global production center, with its purchase and sales volumes in the country reaching 5 billion yuan each by 2005.


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General Electric (GE) has announced that it will make China its global production center, with its purchase and sales volumes in the country reaching 5 billion yuan each by 2005.

As part of its global strategy to enhance China's status, GE has established an industrial park for medical systems in the Beijing Economic and Technological Development Zone, which has cost the group 26 million dollars in direct investment.��

"It represents a landmark investment by GE in China," said ChenZhi, president of GE Medical Systems China.

The park, which covers medical equipment R&D, manufacturing, sales and after-sales service, will take up one third of GE's CT scanner equipment production, making China third only to the United States and Japan in CT scanner manufacturing.

China, together with Japan and India, has already become the company's most important Asian market, and is expected to become its largest market in 10 years.

GE is also ambitious to enhance its purchase and sales volumes as chief executive officer Jeff Immelt believed "China is the world's fastest-growing economy".

Immelt said that GE was prepared to expand in China through three fundamental business strategies, namely, stepping up localization from production to after-sales service to win customers, improving local manufacturing facilities and caring more about cultivating a talent pool. ����

It is GE's objective, stressed Immelt, to make GE in China a localized company and an important part of GE. ����

GE, the world's biggest industrial conglomerate, which has wide interests ranging from finance and media to medical equipment and aircraft engines, reported 1.5 billion dollars in revenue in China,compared with 131.7 billion dollars in its global sales last year.




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