How to treat the Chinese market? GE chairman has said

More than 300 thousand employees, annual turnover of more than one hundred billion U.S. dollars, ranked the world's top three enterprises throughout the year, is the founder of the famous Thomas Edison, since 1896 to set up from the Dow Jones industrial index is still only in the index list of the company, it's the American Ge Corp of local history's most famous achievement legend CEO Jack Welch (GE).

GE is a legend in the global industry, this is not only because of its large size, the legendary founder and CEO, more than and 100 years of history and in the global medical, aviation, commercial, industrial, lighting and other fields widely involved, but because it is so far the only one, after the three industrial the revolution of enterprise, it was born in the first industrial revolution (steam technology revolution) at the end of second, grew up in the Industrial Revolution (power technology revolution) when, in the third industrial revolution (Science and Technology) has made new brilliance.

Recently, GE lighting out of the Asian market, the news was seething, lasted a week of termination of the GE lighting dealer agreement event has finally been finalized. GE official website said, GE lighting based on business considerations, announced the termination of business activities in Asia, is a very difficult decision. For the specific demands of GE lighting dealers, GE attaches great importance to and is actively communicating to ensure that in a fair and equitable basis, on the issues of concern to the dealer to reach a consensus.

GE statement

In addition, GE also reiterated the importance of the Chinese market, GE has a long-term commitment to the Chinese market and has always cherished the partnership with all partners. We will continue to focus on the investment and development of the Chinese market, and long-term cooperation with Chinese partners to grow together.

In fact, as a real century old shop, GE experienced from manufacturing to high technology, from industrial enterprises to industrial Internet companies continue to self transformation process. GE lighting out of the Asian market, in the end what kind of determination? Chinese market for GE, in what position? How to layout the future?

Recently, according to the chairman of GE, President of JeffreyR.Immelt in April this year, a U.S. entrepreneur "innovation and development" theme of the Forum on the speech to organize, share GE in the company's restructuring, upgrading, innovation, development experience and market globalization, he China thinking and vision.

GE chairman and President JeffreyR.Immelt

How to treat the Chinese market?

GE is a long-term investor in China, we have 23000 people in China, the 32 plants, there are a number of joint venture production line. For us, long-term investment in China is very important. People look at the Wall Street times, CNBC, New York Times, may feel that China is now too miserable, but really came to find the situation is not the case. When I was talking to the local team, I found that they were very different from us. So, we want to be able to take root in China for a long time, but also to look at the world from the perspective of the Chinese people and the government, not just from the perspective of the United states. At the same time, we also invest resources in China to strengthen the local development capabilities, such as we have a software laboratory, a variety of product design, a number of joint ventures. At the same time we are manufacturing, design and other aspects are very localized, which is the concept of globalization, we want to achieve the ultimate localization.

We have to think about what we can do in China, what we are willing to do, we believe in change, and firmly believe that our future is bright and the future in China is bright.

So many years of cooperation with Chinese enterprises to bring us the inspiration is how to play together, so that the company bigger and stronger.

Now the world is undergoing tremendous changes, we have to consider Baidu, Ali, China Tencent in the three important digital enterprise, a reference to the United States Google, Facebook, Amazon, rely on the Internet business in the past 20 years, their consumption business has a very big development. It can be said that this is a rising industry, and as an industrial enterprise, we have not received benefits from the Internet, which shows that we have a lot of room for improvement in labor productivity. Consumers take advantage of the Internet, but industrial companies have not benefited from the Internet, which must change.

We also see a technological revolution going on, and the physical stuff, whether it's technology, products, materials, etc., must be combined with analytical techniques. For example, an engine may have dozens of sensors, the gas turbine may have hundreds of sensors, like the data of CT produced, more than CT operating personnel can grasp the scope of data, he does not take so much. We have to deal with the physical information in history, combine it with analytical tools and data technology, so that we can change the way the industrial enterprises operate. For example, the aviation engine is one of our biggest business, if the fuel economy can improve 1%, so many of our installed capacity will be able to bring the value of $3 billion a year. The physical assets and analysis together can be said to be one of the biggest changes, this is called the Internet industry in Europe, called the industry 4, Chinese called Internet plus. What does not matter, in short, to improve efficiency, reduce costs, improve performance. This is a great opportunity for us.

Transformation aimed at five generous