SIEMENS AG, Europe's largest engineering company, will get 10 billion euros (US$15.5 billion) in annual orders from China by 2010 as the country boosts spending on utilities and transport networks.
Orders in China reached 60.7 billion yuan (US$8.9 billion) last year, Richard Hausmann, chief executive officer for Northeast Asia, told Bloomberg News in Beijing yesterday, indicating the Munich-based company expects to increase annual sales by 74 percent.
Siemens' China sales last year increased at more than twice the rate of economic growth as the country invested in projects for the Beijing Olympics.
China, the world's second-largest consumer of energy, may increase power-generating capacity by 40 percent in three years as it combats electricity shortages.