General Electric (GE.NYSE) said it expects "solid double-digit" sales growth in China in 2011 and "for a long period of time," even though revenues in the country haven’t met expectations, the Financial Times reported. The company’s chief executive, Jeff Immelt, also reiterated the call he made last year for China to further open its markets. "Our long standing and the amount of commitment we’ve made in China have earned us the right to comment when we don’t agree with something," he said. Amid Chinese President Hu Jintao’s visit to Washington, GE announced a series of deals this week with Chinese groups. Among the agreements is a 50/50 joint venture with Aviation Industry Corporation of China to provide avionics for the new Chinese C919 airliner. GE fell short of its target to make US$10 billion in sales in China in 2010. The actual figure is expected to have been US$6-6.5 billion.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved