Siemens, one of the world's largest electronics producers, thinks highly of China's macro-control policy, said Hans Werner Linne, vice president of Siemens Ltd. in China, in Shanghai Friday.

"We need another century to develop our business since our products entered the Chinese market 100 years ago," said the vice president. "We don't want our business to run over in the next several years."

It is incredible that China's steel industry can develop at a year-on-year growth rate of 20 percent for a long time, he said. "With no timely macro control measures taken by the Chinese government, the overheated steel industry will do harm to Siemens's long-term development."

He went on to explain that if the company holds too many order forms from China during a short period of time, the manpower and financial resources certainly will be too centralized in the country, easily resulting in a low efficiency and service quality.

And once the unsustainable high-speed growth slows down, it will leave a great waste of resources, he added.

Sources with Siemens also noted that steel projects at lower levels will be washed out in China since the advanced items have been encouraged under the country's ongoing macro control policy.

Siemens has a long history of cooperation with China's steel industry and the portion of its electrical and automatic equipment on the Chinese market has always been ahead of others.

Source: Xinhua