LINE

Text:AAAPrint
Business

GE eyes big slices of power and aviation

1
2017-11-09 10:17:33China Daily Wang Zihao ECNS App Download
John Rice, vice-chairman of GE (Photo/CHINA DAILY)

John Rice, vice-chairman of GE (Photo/CHINA DAILY)

General Electric Co, a U.S.-based conglomerate, is expected to ink deals running into several billions of dollars with Chinese companies, mainly in the power and aviation sector, during U.S. President Donald Trump's state visit to China, a top official said on Wednesday. [Special coverage]

John Rice, the vice-chairman of GE, who is part of Trump's business delegation to China, said that the projects in the pipeline, which are "in billions (of dollars)," will "include the combination of content from China with content from the United States".

It is of great importance for the world's two largest economies "to coexist in a constructive and complementary way," Rice told China Daily.

Noting balance of trade as one of the challenges facing the U.S. and China, Rice said there are "understandable reasons" for that, and hoped that trade frictions could be resolved in a constructive manner.

"I don't think either country will benefit if there is a trade war," he said.

In his view, Sino-U.S. trade activities are not confined to traditional forms, but also can take place beyond the two nation's boundaries, powered by collaboration around the world.

"We work with Chinese partners in infrastructure projects around the world that incorporate goods made in the U.S.. Those don't show up as exports to China, but they are created because of the work we do with Chinese companies in economies along the Belt and Road Initiative," Rice said.

GE has been aligning company resources along China's B&R Initiative. According to Rice, GE orders from B&R-related projects are expected to rise to around $3 billion this year, as the company looks for synergy with Chinese firms that are operating under the initiative.

Rachel Duan, president and CEO of GE China, echoed Rice's point. "When it comes to trade, it may not exactly be from one country to another... In the future, you really need to use the collaboration model in the entire world landscape, and bring production factors like human capital and suppliers to where they are needed, regardless of country."

For instance, in the last six years, 50 new products by GE Healthcare have been developed in China and marketed globally, and 40 percent of those are exported to the emerging markets, she said.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.