General Electric Co (GE), a world leading technology and infrastructure company, aims to double its revenues in China over the next three years, said Mark Hutchinson, president and chief executive officer of GE China.
GE's global revenues were $150.2 billion in 2010, to which GE in China contributed $5 billion.
"GE is truly a global company and operates in more than 100 countries. Compared with other countries except for the United States, we still have a big base in China," said Hutchinson.
"I agree. It (the figure) should be a lot bigger. So my job is to work with the team and with our partners to grow that. We are going to double our business in China, including revenue, over the next three years," he added.
The major businesses of GE China are in the aviation, healthcare, energy, and transportation industries.
In 2009, CFM International, a 50-50 joint venture between GE and Snecma (Safran group), had its LEAP-X1C engine selected by Commercial Aircraft Corporation of China (COMAC), to power the C919, the first Chinese-designed and manufactured large passenger jet.
In 2010, the joint venture formed by GE Aviation and Aviation Industry Corporation of China (AVIC), was selected to develop and market a new generation of avionics systems for the C919 passenger jet.
GE HealthCare started doing business in China in 1979. Now the branch operates seven global manufacturing sites in China with more than 4,500 employees.
Hutchinson said GE would like to partner with more Chinese State-owned enterprises in strategic areas by forming more joint ventures in the future.
"When people ask me whether GE is afraid of the risk of Chinese partners becoming competitors, I say that competition is a good thing. It helps us get better. On the other hand, if we team up together, we can grow together. It is going to be a win-win partnership," he said.
Hutchinson, 50, was appointed as president and CEO of GE China on March 1. Before joining GE China, he was based in Paris and acted as president of GE Capital Real Estate International for more than five years.
"Professionally, my dream in China is to really make sure that we make China our home, as well as being home in the United States," he said. "A global company can be home in many countries. I truly believe that being global means being local in many places."