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Siemens to Invest More in China's Home Appliance Market
Siemens, a Germany-based international giant, is pinning high hopes on China's booming market and plans to turn the most populous country into the largest production and research base for Siemens home appliance in the Asia-Pacific Region.
Franz J. Bosshard, chairman and president of BSH Home Appliance in China, said in a recent interview with Xinhua that his company has invested a total of 200 million U.S. dollars in China.
So far, the firm has set up two factories in Wuxi City, Jiangsu Province, and Chuzhou City, Anhui Province, respectively, and established sale and servicing networks throughout the country.
Siemens plans to build its operations in China into the second largest of its kind in the world, following those in Germany, the official said.
China's expected entry into the World Trade Organization (WTO) will lead to an even more fierce competition in the Chinese market and will also bring about enormous opportunities for international competitors like Siemens, he said.
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