GE sets up global R&D center in Shanghai
( 2003-10-23 21:23) (Xinhua)
US electronics giant General
Electric Co. (GE) Thursday set up an international research and development
center in China's metropolis Shanghai.
The center, GE's third following those
in the United States and India, was set up at a cost of 64 million US dollars
covering an area of 47,000 square meters, which boasts 28 world-level
laboratories and over 500 scientists and engineers. The staff number is expected
to reach 1,200 by 2005.
The center's main tasks include to research new
products and techniques, to provide technical support to GE's purchases in China
and to give training to employees and customers.
Last year, GE reported 1.7
billion US dollars of gross sales and 1.2 billion US dollars of gross purchase.
Its business is expected to grow by 30 percent in next few years, said Jeffrey
R. Immelt, Chairman of the Board and Chief Executive Officer of GE.
The
center would help the company achieve its goal in China, which is 5 billion US
dollars in sales and 5 billion US dollars in purchase by 2005, said
Immelt.
The fourth global R&D center would be set up in Munich in Germany
early 2004, according to the company.
Shanghai now boasts 46 regional and
international R&D centers, 184 multinational enterprises and over 30,000
foreign-invested companies.
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