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Growing points
By Pan Xiaoyi |
May 13, 2010, Thursday
|
Print Edition
Print Edition
ENGINEERING group ABB plans to tap demand from China's renewable energy sector and high-speed railway construction to bolster growth in its biggest market globally.
"Amid the fallout of the economic meltdown, renewable energy and high-speed railway will be new growing points to drive the growth in China as the government is spending heavily in these areas," Brice Koch, head of Marketing and Customer Solutions and member of the Group Executive Committee of ABB Ltd.
ABB, a power and automation equipment maker, generated a US$4.3 billion revenue in China in 2009, up 4 percent from a year ago.
New wind power orders jumped 125 percent annually while the railway business surged 380 percent annually. Orders for automation and power equipment for hydropower stations rose 70 percent.
"China has ambitious plans to support renewable resources development and we aim to follow the growth rate of the new energy industry," said Claudio Facchin, chairman and president of ABB China and senior vice president of ABB Group.
"Amid the fallout of the economic meltdown, renewable energy and high-speed railway will be new growing points to drive the growth in China as the government is spending heavily in these areas," Brice Koch, head of Marketing and Customer Solutions and member of the Group Executive Committee of ABB Ltd.
ABB, a power and automation equipment maker, generated a US$4.3 billion revenue in China in 2009, up 4 percent from a year ago.
New wind power orders jumped 125 percent annually while the railway business surged 380 percent annually. Orders for automation and power equipment for hydropower stations rose 70 percent.
"China has ambitious plans to support renewable resources development and we aim to follow the growth rate of the new energy industry," said Claudio Facchin, chairman and president of ABB China and senior vice president of ABB Group.
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