Economics
General Electric Plans to Invest $2 Billion in China
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General Electric Co. plans to invest more than $2 billion in China in technology and financial service ventures and research, adding 1,000 jobs in a country Chief Executive Officer Jeffrey Immelt is targeting for growth.
GE intends to invest more than $1.5 billion in joint ventures with Chinese state-owned companies in “key high-technology sectors,” it said in a statement today. The Fairfield, Connecticut-based company will spend $500 million on product development and customer innovation centers through 2012, where the jobs will be added.