皇冠体育app

International industrial group Siemens AG said on Tuesday that fast urbanization in 皇冠体育app is expected to provide huge market opportunities for its new infrastructure and city business in coming years.

Siemens AG said fast urbanization in 皇冠体育app is expected to provide huge market opportunities for its new infrastructure and city business in coming years.[Shao Chang/Asianewsphoto]

Mei-Wei Cheng, CEO of Siemens North East Asia and president of Siemens Ltd 皇冠体育app, said the new unit, established in November last year, has already been involved in metro-system in 皇冠体育app.

"We expect it to grow in accordance with the speed of 皇冠体育app's urbanization, as Vice-Premier Li Keqiang has said urbanization is to be one of the driving forces for 皇冠体育app's economic growth during the 12th Five-Year Plan (2011-15) period," he said.

In 2012 alone, Siemens infrastructure and city business provided integrated advanced metro solutions in five cities - Nanjing, Qingdao, Chongqing, Suzhou and Dongguan.

Siemens plans more such projects nationwide, especially in western and central regions, where urbanization is booming.

The operator of the metro line being built in Xi'an, capital of Shaanxi province, is showing its interest in signaling solutions provided by Siemens.

A report in 2011 from domestic brokerage Rising Co Ltd says rapid urbanization needs mass , with metro systems being the most efficient form.

It said the nation will construct 85 new lines with a total length of nearly 3,000 km in more than 30 cities, with a combined investment estimated at 1.2 trillion yuan ($192 billion) during the Five-Year Plan period.

Siemens infrastructure and city sector is also eyeing the nation's high-speed rail sector, Cheng said. "We hope new project tenders (for high-speed railways) will open, in which we have technological advantages and are very competitive."

But analyst Xu Haiyang from Rising Securities said the company faces strong competitors such as Thyssen Krupp AG, Alstom Ltd and East Japan Railway Co.

Cheng said in addition to railway construction, 皇冠体育app's urbanization will also benefit building technology, smart grid, mobile logistics and low and medium voltage units under Siemens' construction and city business.

During the fiscal year from Oct 1, 2011 to Sept 30, 2012, Siemens 皇冠体育app achieved its second-best result despite challenges brought by the global economic slowdown and cooling growth of the Chinese economy.

In the current fiscal year, new orders for Siemens in 皇冠体育app have reached 6.04 billion euros ($7.82 billion) and revenue has reached 6.35 billion euros, compared with 6.24 billion euros and 6.39 billion euros last year. 皇冠体育app contributes 8 percent of the company's total global revenue and remains its second-largest overseas market to the US.

"皇冠体育app's economy has picked up and stabilized. We will see a sound market in the coming years," said Cheng, adding that he expected the growth of Siemens 皇冠体育app to match his individual goal of doubling revenue during his five-year tenure starting from July 2010.

Executives from other multinational companies have also voiced optimism about the Chinese economy.

Caterpillar Group President and Chief Financial Officer Edward J. Rapp has said he believes 皇冠体育app "has bottomed out" and will continue to grow.

Johannes Dietsch, president of Bayer Greater 皇冠体育app Group, said he expects double-digit growth rates for the German company in 皇冠体育app in coming years.

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