GE Looks to Double Revenue in China by 2014

By Admin
Theres no arguing that China has one of the biggest consumer bases in the world, and General Electric Co. (GE), is looking to turn over some hefty rev...

 

There’s no arguing that China has one of the biggest consumer bases in the world, and General Electric Co. (GE), is looking to turn over some hefty revenues in China in coming years.  The company’s president in China, Mark Hutchinson, says the $5 billion in revenue GE made in China in 2010 is too low for a market of that size, and is looking to increase revenue dramatically by 2014.

“It should be a lot bigger,” says Hutchinson.  “My job is to work with the team and with our partners to grow that. We are going to double our business in China, including revenue, over the next three years.”

SEE OTHER TOP STORIES IN THE WDM CONTENT NETWORK

GE Signs $3 Billion in New Orders

China Ramps Up Renewable Energy Targets

Read the latest issue of Energy Digital!

GE China’s major business segments include: aviation, healthcare, energy, and transportation.  GE Healthcare, for example, was established in China in 1979 and has grown to seven global manufacturing sites with over 4,500 employees.

According to Hutchinson, GE is looking to partner with more Chinese firms in various market segments through the formation of more joint ventures.

“When people ask me whether GE is afraid of the risk of Chinese partners becoming competitors, I say that competition is a good thing,” notes Hutchinson.  “It helps us get better. On the other hand, if we team up together, we can grow together. It is going to be a win-win partnership.”

Share

Featured Articles

UK Government awards £54mn in heat network funding

Funding will support the development of schemes in London, Bedfordshire and Woking that use low-carbon heat sources

Shell posts $11.5bn second quarter profit

Shell's earnings fuelled by ongoing price rises and geopolitical instability as the energy major places greater focus on natural gas investments

bp opens first electric truck fast-charging facilities

Operated by bp’s Aral brand, the retail site at Schwegenheim in Rheinland-Pfalz has two 300kw chargers intended for electric trucks

Shell commits to developing Jackdaw gas field in North Sea

Oil & Gas

Prospex Energy raises £1.87m for Selva gas field development

Oil & Gas

Shanghai Electric Group launches low carbon business

Utilities