General Electric plans to double its sales to US$50 billion in developing countries, including China, by the end of the decade, AFP reported, citing chairman and chief executive officer Jeff Immelt. The company has begun investing in developing technologies like medical imaging devices that will cost about a third of the price of current machines in order to expand in emerging markets, Immelt told the Detroit Economic Club. He also said he expected about 25% of GE's management team to come from outside the US by the end of the decade. GE has nearly 13,000 employees in China, and the company said earlier this year it would provide management and leadership training for up to 2,500 Chinese managers and government officials over the next five years. The company also signed an agreement with the Chinese government in May to spend up to US$50 million in China over the next five years developing more environmentally friendly technologies.GE's revenues in China totalled nearly US$5 billion in 2005.
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