BIZCHINA / Overseas Investment
Siemens to invest additional 10b yuan in China
(Xinhua)
Updated: 2006-12-13 10:24
Siemens China Co. Ltd. announced yesterday that it plans to invest an
additional 10 billion yuan (1.25 billion U.S. dollars) in China and
double its 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 said.
Sales of Siemens China rose 37 percent year on year to reach 50.4 billion
yuan in the financial year of 2006 that ended on Sept. 30, while new
orders increased by 15 percent to 56 billion yuan.
The growth was mainly fueled by new investments and business expansion,
he said.
Meanwhile, Siemens China saw 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 three to five 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.
(For more biz stories, please visit Industry Updates)
Chinese language
