Technology and commercial partnerships between US businesses and Chinese enterprises can benefit both nations, said Mark Hutchinson, president and chief executive officer of General Electric Co (GE) China.
According to Hutchinson, such partnerships will help create jobs, spur innovation and expand markets for both nations.
GE, the world’s biggest maker of power generation equipment and aircraft engines, entered China as early as 1906. It has 50 legal entities, including wholly owned companies, joint ventures and research and development (R&D) centers in China with more than 18,000 employees.
“All of GE’s businesses have set up operations in China. We will team up with Chinese partners and introduce technologies, innovations, and also our experiences of how to operate as a global player,” said Hutchinson.
But such moves by companies such as GE have raised concerns in the United States as many feel that strong Chinese companies may limit growth for US companies and, therefore, reduce job opportunities.
“It’s not a zero-sum game, but a real win-win. When GE grows in China, so does our employee base in China and the United States,” said Hutchinson, who joined GE 17 years ago and was appointed president and CEO for GE China on March 1.