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UPDATED: 16:31, May 31, 2004
Siemens to add 1 billion euros investment in China
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Photo:Siemens targets double sales in China
Siemens targets double sales in China
In the next three to five years Siemens will add an investment worth 1 billion euros and double its current 4 billion euros sales in China, Siemens President Heinrich von Pierer said recently in Shanghai at a ceremony celebrating the 100th anniversary of the establishment of Siemens' first China office.

Siemens will also put more in R&D while expanding market, according to Mr. Ernst H. Behrens, president and CEO of Siemens Ltd, China. Early this year, Siemens joined with Huawei Technologies in a project worth 100 million US dollars for developing 3G cell phones. Siemens also plans to shift its global broadband accession R&D center to China. Recently the company has set up a software development center in Nanjing, which, targeting markets nationwide, will gather more than 1,000 software engineers to work out high-class application software.

As the world largest electric and electronic multinational, Siemens has set up China branches for all its business items, including information and communication, automation and control, electric power, transportation, medical treatment, lighting and household appliances. By now Siemens has established 45 joint ventures in China, with a total fund exceeding 5.4 billion yuan (about 655 million euros) and a staff over 30,000 people.

By People's Daily Online

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