BEIJING, China--05 December 2008-- GE today congratulated the US and Chinese governments on successfully concluding the 5th Strategic Economic Dialogue (SED), which was led by US Treasury Secretary Henry Paulson and Vice-Premier Wang Qishan and focuses on cooperation between the United States and China.
"General Electric applauds the steps taken by the two governments to enhance bilateral economic cooperation, particularly in the areas of energy, water and the environment," said Mark Norbom, President and CEO of GE China. "These are critically important areas for both countries, and GE stands ready to support these collaborative efforts. The SED demonstrates that senior-level engagement can produce important benefits."
The 5th SED outcomes included the formation of seven "EcoPartnerships" -- agreements between Chinese and US cities, universities, and companies to pursue cooperation in environmentally friendly and energy efficient areas under the Framework of the Ten Year Cooperation on Energy and Environment between the United States and China signed at the 4th SED on June 18, 2008. A Statement of Intent for one such EcoPartnership was signed by China's city of Wuxi and the U.S.'s Wichita, Kansas. Wuxi and Wichita agreed to exchange best practices on clean air and clean water at the municipal and industrial level, demonstrating how these technologies can better protect the environment in a cost-effective way.
"GE is very pleased to witness and help facilitate the signing of the EcoPartnerships between Wuxi and Wichita," Norbom added. "Our investment in water equipment manufacturing in Wuxi and our partnership with Wichita enables GE to collaborate with cities on the leading edge of sustainability."
In November, GE completed a $9 million expansion of its manufacturing site in Wuxi, adding production capacity for reverse osmosis filtration systems and ultra-filtration equipment. These products help a wide-range of industries, municipalities and government agencies meet their goal of providing safe and reliable water supplies.
The SED outcomes also included commitments by the US Trade and Development Agency to enhance US-China cooperation in the area of clean water policy and energy efficiency projects in China. GE is a leading provider of water and energy technologies.
GE's sustainable business strategy -- called ecomagination -- is expected to rise 21% to $17 billion in 2008, while GE's annual investment in cleaner research and development will pass $1.4 billion. In China in 2006, GE signed a Memorandum of Understanding with the National Development and Reform Commission (NDRC) to explore partnerships with the Chinese government and enterprises to apply environment technologies to help China's sustainable development.
GE (NYSE: GE) is a diversified global infrastructure, finance and media company that is built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. GE is Imagination at Work. For more information, visit the company's Web site at http://www.ge.com/.
Geoff Li
Geoff Li
GE Global Operations
[email protected]
*517-3046