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China is a key market for GE as it works to increase its non-U.S. sales from 54 percent in 2009 to a target of 60 percent. The agreements in aviation, energy and rail being finalized this week during Chinese President Hu Jintao’s visit to Washington are part of that focus — underscoring how global growth translates into revenue and jobs.
The five agreements are expected to deliver more than $2 billion in revenue for GE, which is the nation’s second-largest manufacturing exporter, and generate more than $1 billion in exports from the U.S. Importantly, they’ll be creating or supporting jobs in both countries — including more than 4,500 U.S. jobs.
The deals include:
These agreements build on a larger-scale commitment GE has already made last November when GE announced plans to invest more than $2 billion in China through 2012 to expand the company’s R&D and innovation capabilities and create new local partnerships.
Additionally, GE has been selected as one of 10 founding U.S. companies to participate in a new U.S.-China public-private partnership on healthcare, which was also launched during President Hu’s visit and aims to bolster bilateral cooperation advancing technology in and increasing accessibility to healthcare services across China.
Clean tech: The development of coal gasification technologies, such as those in the plant above, will support job creation in the U.S. and China, including hundreds of jobs in Houston, Greenville, S.C.; and Schenectady, N.Y.