On Tuesday Siemens China Co. Ltd. announced they plan to invest
an additional 10 billion yuan (US$1.25 billion) in the country and
double their sales volume by 2010.
"The company has fulfilled its previous 10 billion yuan
investment commitment made in May 2004," said Siemens China
President and CEO Richard Hausmann. "The plan for an additional
mid-term investment of 10 billion yuan shows Siemens' unswerving
commitment to deepening its roots in China," he added.
Sales by Siemens China rose 37 percent year on year to reach
50.4 billion yuan in the 2006 financial year that ended on
September 30 and new orders increased by 15 percent to 56 billion
yuan. The growth was mainly fueled by new investments and business
expansion, he said.
And Siemens China had seen the number of its research and
development personnel rise by 40 percent compared with 2005.
The company opened a new research facility in Beijing in
October. Siemens China Corporate Technology, with more than 200
researchers, plans to invest 800 million yuan over the next 3-5
years to build up its research and development capabilities.
Siemens China now has 70 operating companies and 60 regional
offices across the country. As investment increases the number of
regional offices is expected to reach 100 in 2010.
(Xinhua News Agency December 13, 2006)