China Information

Friday, December 15, 2006

Sales of Siemens Group in China Rocketed By 37% in 2006

Report from German Financial and Economic News Online, Richard Hausmann, president of Siemens China, announced recently that the sales volume of Siemens in China this year was RMB50.4b (about EUR5.1b), increased by 37% compared with that of last year. The order amount during the same period had reached RMB56b, up 15% year-on-year. At the current speed of development Siemens expects to double its sales volume in 2010. Hausmann also revealed that in the next three to four years Siemens would continue to input EUR1b investment in China to reinforce their strength in China. Meanwhile, he held a high confidence on Siemens joining Beijing-Shanghai High-Speed Rail and Shanghai-Hangzhou maglev extension projects and believed that the maglev technology developed by China had lagged far behind of that in Germany.

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