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GE Sets Up First Plastic Plant in Pudong
The first synthetic plastic factory in China founded by the US-based General Electric Company (GE) opened in Shanghai's Pudong economic zone Monday.
With an investment of 30 million US dollars from GE, the plant can produce 30,000 ton of high-powered plastic to be used in the production of computers, mobile phones, cars and others.
The factory plans to export the plastics to the United States, Europe and Southeast Asia. Experts predict that the annual output value by the factory will be one billion yuan.
Jack Welch, chairman of General Electric, believes that the project is an important step for the company in developing its market in China.
He said that the company will soon buy more land and double production in the factory.
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