Siemens China is expected to add 3,000 new employees in its annual recruitment in the fiscal year 2006, according to Fanchen Meng, senior vice president of the German-invested company.

In fiscal year of 2006, Siemens will make further investments in China to expand its portfolio and address new growth markets in an effort to achieve the goal of doubling its sales in China, said Meng.

"We see particular opportunities in energy, transportation, industrial solutions, oil and gas, water treatment technologies, health care, mega events and 3G mobile networks," said Meng.

China has the world's third largest and fastest growing electrical and electronics market. Major events like the 2008 Olympic Games in Beijing, the 2010 World Expo in Shanghai and the Asian Games in Guangzhou will be a further stimulus.

To participate in this growth and develop all opportunities offered by the Chinese market, the company will provide more and better products and services, Meng added.

Siemens China recruited 5,000 staff in fiscal year 2005 to its local operations and remains one of the largest foreign invested firms in China with over 36,000 employees.

It continued its strong growth momentum in fiscal year 2005, ending on September 30, showing substantial growth rates and gains in market share. New orders increased by 34 percent from 41.8 billion yuan (about US$5.15 billion) to 56 billion yuan (US$6.93 billion). In the same period, sales climbed from 38.4 billion yuan (US$4.75 billion) to 44.3 billion yuan (US$5.48 billion), an increase of 15 percent over the fiscal year 2004.

(Xinhua News Agency December 12, 2005)