GE Sets up First China Joint Venture

Home>>Business

Last updated at: (Beijing Time) Friday, August 29, 2003

GE Sets up First China Joint Venture

The US conglomerate General Electric (GE) Thursday afternoon held a ground-breaking ceremony for its first plant in China, in this capital of the northeastern province of Liaoning.

DISCUSSION

CHINESE

SEND TO FRIEND

The US conglomerate General Electric (GE) Thursday afternoon held a ground-breaking ceremony for its first plant in China, in this capital of the northeastern province of Liaoning.

The joint venture, with Chinese partner Shenyang Blowing Machine Factory, involves a total investment of 13.6 million US dollars. GE holds 75 percent of the shares and the Chinese factory25 percent.

The plant, covering a total acreage of 30,000 square meters, with a reserve of 56,000 square meters for future expansion, will focus on the development of China's oil and gas turbine markets, and serve the demands of GE turbine clients for renovation and upgrading, according to sources with the joint venture.

GE's turbine products have a history of over 90 years in China,and GE has provided Chinese enterprises with 56 steam turbines, 160 gas turbines and 80 hydraulic turbines.

Questions?Comments? Click here

GE Predicts 2005 China Sales of 5 Billion US Dollars

Martin Luther King's Dream Hard to Be Fulfilled ( 23 Messages)

China's Economy Faces Stiff Challenges: Minister ( 3 Messages)

China's 150 million mu Forests Plagued by Exotic Pests ( 3 Messages)

Is a Good Husband Worth More Than a Good Job? ( 2 Messages)

Poll Shows More Americans Wouldn't Vote for Bush ( 15 Messages)