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Home >> Business
UPDATED: 17:04, August 05, 2005
Siemens to form economic partnership in Xinjiang
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Siemens, one of the world's leading electronics producers, signed an agreement with the Development and Reform Commission of northwest China's Xinjiang Uygur Autonomous Region Thursday, aiming to promote economic cooperation.

According to the agreement, both sides will seek cooperation in such fields as infrastructure, the petrochemical industry, power, transportation, communications, automation and control.

Siemens will also take part in the readjustment of Xinjiang's industrial structure and certain key construction projects, the agreement said.

"The geographic position and rich natural resources of Xinjiang are favorable for its future development," said Richard Hausmann, president and CEO of Siemens Ltd., China.

China's west development strategy will bring more opportunities to Xinjiang and Siemens expects a bright future here, said Hausmann.

Siemens has so far established 46 offices and opened 45 joint-ventures in China. It invested more than 8.5 billion yuan (about 105 million US dollars) in China at the end of 2004.

Source: Xinhua

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