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Visiting Motorola Chairman and Chief Executive Officer Christopher Galvin said Sunday that he has confidence in China's economy and is determined to boost his company's business on the Chinese mainland.
Galvin was in Xiamen Sunday to attend the Sixth China International Fair for Trade and Investment.
"While the global economy is slumping, China is still maintaining rapid growth and has become a focus of world economic development, particularly in the communications industry," Galvin told a press conference yesterday.
Having first set foot in the Chinese market in 1987, Motorola has increased its investment in the country by 28 times to 28.5 billion yuan (US$3.4 billion), edging itself towards becoming the biggest foreign business in China.
"We carry out our business strategies in line with our global strategies," Galvin said, adding that the company is implementing a 2-3-3 strategy in China.
The "2" refers to building China into both a world-leading manufacturing and research and development base. The first "3" refers to three new growth areas: semiconductors, broadband and digital trunking systems. The second "3" refers to three financial goals: annual production, accumulated investment in China and local purchasing.
"It's a win-win deal for both Motorola and China, and Motorola will continue to strive to be a Chinese company by establishing an unshakeable partnership with China," Galvin said.
"(But) at this stage we have no intention to be listed on China's bourses," he added.
Motorola posted sales of 40.7 billion yuan (US$5 billion) last year in China.
"We encourage our foreign suppliers to invest in China while we help potential Chinese market suppliers to develop the skills to enter the international market," Galvin said.
Figures from the company indicate that 45 of Motorola's foreign suppliers have set up factories in China, with a total investment of US$4 billion.
Last year, Motorola purchased 13.3 billion yuan (US$1.6 billion) worth of locally produced components, goods and services from Chinese enterprises. The company has 176 direct suppliers and 7,000 indirect suppliers.
As for the development of the third-generation of mobile telecommunications (3G), Galvin predicted that the testing of 3G is expected to be in full swing by the fourth quarter of this year.
(China Daily September 9, 2002)
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