But analyst Xu Haiyang from Rising Securities said the company faces strong competitors such as Thyssen Krupp AG, Alstom Ltd and East Japan Railway Co.
Cheng said in addition to railway construction, China's urbanization will also benefit building technology, smart grid, mobile logistics and low and medium voltage units under Siemens' construction and city business.
During the fiscal year from Oct 1, 2011 to Sept 30, 2012, Siemens China achieved its second-best result despite challenges brought by the global economic slowdown and cooling growth of the Chinese economy.
In the current fiscal year, new orders for Siemens in China have reached 6.04 billion euros ($7.82 billion) and revenue has reached 6.35 billion euros, compared with 6.24 billion euros and 6.39 billion euros last year. China contributes 8 percent of the company's total global revenue and remains its second-largest overseas market to the US.
"China's economy has picked up and stabilized. We will see a sound market environment in the coming years," said Cheng, adding that he expected the growth of Siemens China to match his individual goal of doubling revenue during his five-year tenure starting from July 2010.
Executives from other multinational companies have also voiced optimism about the Chinese economy.
Caterpillar Group President and Chief Financial Officer Edward J. Rapp has said he believes China "has bottomed out" and will continue to grow.
Johannes Dietsch, president of Bayer Greater China Group, said he expects double-digit growth rates for the German company in China in coming years.
Snow hits capital of China, flights delayed
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