Wednesday 9 May 2012

CHINESE PROSPECTS

China Daily

EXECUTIVES UPBEAT ON CHINA PROSPECTS

Deloitte poll reveals positive outlook despite concerns of slower growth

Wang Xiaotian

China Daily, May 9, 2012

Multinational executives remain upbeat about China's business environment and are not allowing concerns over an economic slowdown to dampen their enthusiasm for investing in the country.

John Rice, vice-chairman of GE and president of Global Growth and Operations, told China Daily that he is very bullish about China's long-term prospects and GE's business in the country, because infrastructure projects remain a top priority, although the GDP growth rate will be lower than forecast last year.

"Although in any quarter you could see a challenge in the business, in the long run we believe China will be the world's largest economy, making it a place where companies have to take a long-term view."

Rice predicted GE's China business will grow by more than 15 percent this year, with each segment expanding at two to three times the GDP growth rate.

GE's revenue in China last year was $5.7 billion. Industrial segments contributed $4.9 billion, accounting for 9 percent of GE's global industrial revenue.

"The Chinese market is one of the most important markets that we have in the world. It's important because of the size of the market, but also because of the thought leadership that takes place here," he said.

Rice's remarks came after inbound investment to China dropped in March for the fifth consecutive month

Foreign direct investment fell 6.1 percent year-on-year to $11.76 billion in March, marking the longest decline since the onset of the global financial crisis.

(...) [artículo aquí]

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