GE to set up 5 new regional HQs in China

Sep. 16, 2008 (China Knowledge) - General Electric Co (GE) will set up another five regional headquarters in China in the near future, sources reported.

In a bid to further explore the market and develop the Chinese mainland market, GE plans to extend the number of its regional headquarters in China to seven and launch five new regional headquarters in Shenyang, Wuhan, Chengdu, Xi'an and Guangzhou in addition to the existing headquarters in Shanghai and Beijing, said Chen Xiangli, president of GE China Technology Center.

The move shows the U.S. company's confidence in China as it is a big market as well as an important research and development base of GE.

GE has invested more than US$55 million since 2007 to the R&D centers in China, which include about 60 advanced labs and a staff of 1,400 people, focusing on clean energy, water treatment and new materials and so on. 

Last year, the global sales of GE amounted to US$173 million, of which about 2.54% were contributed by the Chinese market. The weighting indicates that GE would have more potential opportunities to expand is business in China.