GE ups presence in China

Fairfield, Conn.-based General Electric (NYSE:GE) plans to establish five new offices throughout China as part of its concentrated effort to grow its presence and customer base there, according to reports by Xinhua.

GE has invested $55 million in the last year to develop products for clean energy, water treatment and new materials in China.

GE said in May it planned to make significant investments in water technologies, especially to attack shortages in China (see GE tackles water supply).

GE currently has offices in Shanghai and Beijing but will add headquarters in the provincial capitals of Shenyang, Wuhan, Chengdu, Xi'an and Guangzhou.

GE is making China its second home, according to Chen Xiangli, president of China Technology Center, which is financed by GE.

Chen said GE sees growth potential in China, which currently accounts for less than 3 percent of the company’s $173 billion in global sales.

The conglomerate is also investing in other emerging markets. In July, GE announced plans to put $50 million into a cleantech fund in Abu Dhabi as it established a clean energy technology center there (see GE teams up with Abu Dhabi on cleantech).

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