Wednesday, January 16, 2008

China: GE finds niche amid conservation push

From Xinhua:

For Jack Wen, the charismatic chairman of GE Energy China, this is the best of times for his line of business.

Energy conservation has taken center stage as the nation tries to combat pollution and environmental damage. Rising oil prices, which recently crossed 100 U.S. dollars a barrel, have added impetus to this movement.

"The environment in China is very good for GE now," Wen told China Daily at the US-China Clean Energy Dialogue. "We've heard a lot about energy conservation and environmental protection from the government, and that's just what we offer with our technology," he said.

His confidence is backed by GE China's strong performance. Last year, GE China posted double-digit revenue growth to 5.4 billion dollars. Its GE Energy unit accounts for the biggest share of the company's China business....MORE