Siemens reports 19-per-cent growth in China

Beijing - Electronics company Siemens said Thursday its sales and new orders in China grew by 19 per cent each - twice the growth rate of the country's economy.

Richard Hausmann, head of the Germany-based conglomerate's China subsidiary, told journalists in Beijing that sales surged to 57 billion yuan (8.3 billion dollars) and new orders to 65.5 billion yuan in the business year through September 2008.

"In face of a global economic downturn I am glad that the results of our China operations again contribute significantly to our global performance," he said.

"Such figures are even more remarkable given the fact that in 2008 Siemens underwent one of the largest reorganizations in the history of the company."

The outlook at Siemens' second most important export market after the United States remained, however, insecure. While China may face difficulties in sustaining 8-per-cent growth in its gross domestic product, Siemens retained its target of a double-GDP growth rate, Hausmann said.

Siemens will focus on infrastructure, environment protection and rural development projects in view of a 4-trillion-yuan stimulus package from the Chinese government. (dpa)

Business News: 
General: 
Regions: