In order to keep in line with the domestic demands on power supply and track traffic development, Shanghai electrical equipment sector is going to set up a new foreign-shared company jointly with Siemens, introducing its key technologies of high-tension gas insulting switch to Shanghai. That is the first time for Siemens, which has more than 100 years of history, to cooperate with other enterprise outside Germany on such products.
Sources revealed electrical equipment sector is one of the new high-tech sectors in Shanghai. The new company will be input with US$9 billion to develop and produce high tension gas insulting equipments, whose technologies are in pace with those of German. It's expected it will dominate over 45 percent of market shares this year.
(People's Daily July 2, 2002)
