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ABB to Expand Chinese Market
Asea Brown Boveri (ABB), the world's top automation technology provider, is projected to increase investment in China to one billion U.S. dollars in the next three or four years.
This means that ABB's business volume in China will rank 3rd in the group's global sales network, said sources from the group.
The Swiss company is among the world's largest electrical engineering equipment producers, with more than 1,000 subsidiaries in more than 100 countries and regions, as well as the world's leading automation technology provider.
ABB's business volume reached 8.1 billion U.S. dollars in the world last year.
ABB began its cooperation with China in early 1900s. With the rapid economic growth in China, ABB has increased investment in the country in the past few years. ABB now has 25 solely-funded enterprises and joint ventures and 20 representative offices in China, employing over 5,000 people.
ABB authorities noted that China boasts a huge potential market with its impending entry into the World Trade Organization.
As Chinese enterprises speed up technical renovation to become more competitive on world market, their demand will increase for advanced technology from the outside world, sources said.
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