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General Electric to invest in China
April 17, 2008: General Electric (DE) plans to invest up to $2 billion in acquisitions and other deals in China over the next three years as part of a strategy to double its revenues in the country.
The aggressive investment plans, which will include acquisitions and joint ventures, underline GE's intention to expand its China business rapidly at a time when its domestic operations face a slowing US economy. As part of its plans to expand manufacturing in China, the group intends to import fewer components to its plants and will increase both sourcing and design in China.
Source: Business Standard