| "The 4-trillion-yuan stimulus program launched by the Chinese government last month was a good move; and we believe we can contribute to it as much as any Chinese company," said Dr. Richard Hausmann, President and CEO of Siemens Ltd., China, at a press conference in Beijing on December 4.
Dr. Richard Hausmann, President and CEO of Siemens Ltd., China, at a press conference in Beijing on December 4. (COURTESY OF SIEMENS CHINA)
According to Dr. Hausmann, the sales and new orders of Siemens Ltd., China, in fiscal year 2008 (October 1, 2007-September 30, 2008) surged to 57 billion yuan and 65.6 billion yuan, respectively (without COM and Siemens VOD). Both realized growth rates of 19 percent--two times China's GDP growth this year.
He said he personally admired the speed with which the Chinese Government reacted to the global financial crisis.
"The stimulus program was very solid, detailed and sustainable; psychologically, it was also important for the world economy. The crisis means opportunity and challenge. I don't know yet how much the stimulus program will affect our own business, but at the moment, we are analyzing it very carefully to see what we can contribute to it. We will continue to focus on rural development, the environmental portfolio and local innovation," he stated.
"It is not clear how the crisis will develop, but it is clear that the stimulus program will be effective. Our portfolio--industry, energy and healthcare sectors--fits extremely well with the needs of China, and those of the program as well. We set a goal to reach 10 billion yuan in new orders in China in 2010. At the moment, we don't see any reason to change that goal," he continued.
"Strategically, we consider China important not only as a market but also as part of our business in terms of sourcing, research and development. The financial crisis shows or forces us in a way to pay even more attention to the Chinese economy, which will have the largest growth rates and be one of the strongest economies worldwide in the years to come. I believe that China is on the right track for the economy to achieve sustainable growth, and it is more than natural for us as a company to focus more on China. We will continue our investment in the country," he noted.
"In addition, we have no plans to reduce investment in non-profit programs here such as healthcare and disaster relief. We see ourselves as an integral part of the economy in both good and bad times," he added. |
