Siemens to Invest US$1 Billion in China in Next 5 YearsSiemens will invest US$1 billion in China over the next five years, about two thirds of its total investment in Asia, said Heinrich Von Pierer, chairman of the board of directors and president of Siemens recently.Von Pierer made this announcement when attending the inauguration ceremony of the Siemens Industrial District in the Pudong District in Shanghai. Covering 55,000 square meters and with a total investment of US$120 million, the district mainly involves research and development, and production of GMS mobile communications system and mobile phones. Siemens set up its only mobile phones factory outside its territory in Shanghai in 1993, which now has 10 production lines with an annual production capacity of 10 million mobile phones. Von Pierer said that China has become Siemens's third largest market following Europe and the United States. It has 45 jointly-funded or solely-funded companies employing 25,000 staff in China. Siemens has also become the third largest share holder in China's mobile phone market. |
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