The U.S. electronics giant, General Electric Co. (GE), Wednesday signed an agreement with Shanghai's high-tech zone on the establishment of an international research and development center in China.
The center, GE's third one after those in the United States and India, is expected to gather the current R&D brains in China and start operation next year. About 400 scientists and engineers will work in the Zhangjiang Hi-Tech Zone, in Pudong of Shanghai.
Gary Rogers, Deputy Board Chairman of GE, told Xinhua that his company is aiming to keep the leading position of technology in China. "China is the new influential market for GE in the 21st century," he said.
GE (China) CEO Steve Schneider said that it only took three months to settle the deal with the hi-tech zone.
He explained that the favorable investment environment, strong support by the government and a pool of talents were major factors for GE to choose the country's center of finance and economy.
He said that with an area of 47,000 square meters and a potential reserve of 77,000 square meters, R&D staff of GE will devote to advance technology for products both in the Chinese market and the global market.
GE has 30 joint ventures and soly-funded companies in China, with a total investment of more than US$1.5 billion. Its sales in the country increased more than 20 percent last year.
( February 28, 2002)
