International industrial group Siemens AG said on Tuesday that fast urbanization in China is expected to provide huge market opportunities for its new infrastructure and city business in coming years.
Mei-Wei Cheng, CEO of Siemens North East Asia and president of Siemens Ltd China, said the new unit, established in November last year, has already been involved in metro-system construction in China.
"We expect it to grow in accordance with the speed of China's urbanization, as Vice-Premier Li Keqiang has said urbanization is to be one of the driving forces for China's economic growth during the 12th Five-Year Plan (2011-15) period," he said.
In 2012 alone, Siemens infrastructure and city business provided integrated advanced metro solutions in five cities - Nanjing, Qingdao, Chongqing, Suzhou and Dongguan.
Siemens plans more such projects nationwide, especially in western and central regions, where urbanization is booming.
The operator of the metro line being built in Xi'an, capital of Shaanxi province, is showing its interest in signaling solutions provided by Siemens.
A report in 2011 from domestic brokerage Rising Securities Co Ltd says rapid urbanization needs mass transportation, with metro systems being the most efficient form.
It said the nation will construct 85 new lines with a total length of nearly 3,000 km in more than 30 cities, with a combined investment estimated at 1.2 trillion yuan ($192 billion) during the Five-Year Plan period.
Siemens infrastructure and city sector is also eyeing the nation's high-speed rail sector, Cheng said. "We hope new project tenders (for high-speed railways) will open, in which we have technological advantages and are very competitive."
Snow hits capital of China, flights delayed
Feedback
RSS
