Beijing Welcomes Investment from Foreign Companies

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Last updated at: (Beijing Time) Wednesday, October 09, 2002

Beijing Welcomes Investment from Foreign Companies

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Beijing encourages more transnationals to invest in modernizing its manufacturing sector, Beijing Mayor Liu Qi said Tuesday while meeting with Jeff Immelt, chairman and CEO of the General Electric (GE).

Liu said Beijing is speeding up its preparations for the 2008 Olympic Games. Beijing welcomes the participation of transnational companies in major infrastructure projects, including the building of rail and electric power installations as well as air pollution control.

Liu hopes that GE contributes to the restructuring of state-owned enterprises in Beijing to promote the development of the city's manufacturing.

Jeff Immelt is satisfied with the success of GE's investment in Beijing, the best example of its development in China. He said GE will continue to invest more in the city, especially in infrastructure.

Currently, GE has established production bases for CT and X-ray machines in Beijing with their annual export volume accounting for50 percent of GE's total output. The Beijing industrial park for GE medical system, which is now under construction, will be completed in 2003.

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