by Xinhua writers Yang Shilong, Liu Yanan
NEW YORK, Oct. 7 (Xinhua) -- The U.S.-based International conglomerate General Electric Company (GE) would continue to invest and grasp opportunities in China, according to Rachel Duan, a high-ranking GE executive.
GE has deep understanding of the Chinese market built upon its business relationship with China started over 100 years ago and integrates its business strategies into development trends in China.
GE's businesses in China continue to steadily develop, which reflects rising domestic demand accelerated by industrial transformation and the positive effects of continuous opening-up, said Duan, president and chief executive officer of GE Global Growth Markets in a recent written interview with Xinhua.
Growing domestic demand in China provides foreign companies with opportunities for further development in the country, according to Duan.
"We remain optimistic about the development prospects of the Chinese market, and we will continue to invest in China, continuously growing together with China's economy," said Duan.
China is an indispensable part of the global supply chain, noted Duan, and is a strategic market that cannot be ignored by any enterprise.
As for GE, China is currently the largest single-country market outside the United States, and is also an important growth engine for GE's future global development.
Duan said GE pays close attention to the needs of China's economic and social development and adjust its strategy accordingly to achieve the best results for GE and its customers in China. Among the moves are localization, partnership and digitalization and focuses on energy, aviation and healthcare fields.
GE has proactively ridden on the Chinese push for intelligent manufacturing, Duan said, citing operating an advanced manufacturing and technology center (AMTC) in the northern Chinese city of Tianjin, and building joint ventures with Aviation Industry Corporation of China (AVIC) and Harbin Electric Corporation.
Moreover, GE is expected to open an offshore wind manufacturing base in south China's Guangdong Province, with its most powerful offshore wind turbine to date -- the Haliade-X 12 MW -- to be made there.
GE will showcase its solutions for clean energy and unveil some eye-catching products at the upcoming China International Import Expo (CIIE) scheduled for early November.
Duan said, "We hope that the second expo will continue to promote trade liberalization, expand market opportunities, and create a better international business environment."
As a witness, participant and beneficiary to China's 40 years of reform and opening-Up, GE expects that CIIE will continue to create opportunities for growth among all market players, said Duan.
On an exhibition area of 500 square meters, GE will display industrial equipment and digital solutions in the aviation, energy, healthcare, oil and gas, and intelligent manufacturing sectors, as well as case studies and technical examples, to demonstrate how GE has contributed to China's economic development.
Duan added the highlights include some of GE's most important products to be launched at CIIE 2019. Meanwhile, it will be the first time GE presents its comprehensive solutions for China's clean energy development under one umbrella.
As the chairing member of CIIE's exhibitors' alliance, GE hopes to give full play to its role by uniting exhibitors, gathering information, sharing resources and offering advice, Duan said. "We hope this will all help promote economic and trade exchanges between the other parties and Chinese enterprises."
At the first CIIE in 2018, GE saw its booth visited by over 400,000 domestic and foreign buyers and more than 800,000 other visitors, and signed a number of deals.