(Invest in China) GE China President and CEO: China is still an important part of GE's global supply chain

  China News Service, Beijing, September 27th. Title: President and CEO of GE China: China is still an important part of GE's global supply chain

  China News Agency reporter Li Xiaoyu

  Under the epidemic, the global industrial chain supply chain is changing.

However, some companies choose to stay the same.

  General Electric (GE) China President and CEO Xiang Weiming said in an exclusive interview with a reporter from China News Agency that China is still an important part of GE's global supply chain.

GE China will ensure that GE's long-term commitment in China and its core strategy of comprehensive localization remain unchanged, and will actively promote its investment plan in China.

  The impact of the epidemic has been "greatly reduced"

  Talking about the impact of the epidemic on GE's business in China, Xiang Weiming said that it is undeniable that the epidemic has had an impact on the development of various industries and the overall economy.

However, the Chinese government has responded to the epidemic in a timely and effective manner, and targeted foreign companies including GE to solve practical problems encountered in investment, production, and operation, greatly reducing the impact of the epidemic on GE's business in China.

  In early March of this year, all GE factories and offices in China, including Wuhan, resumed normal operations.

  Xiang Weiming said that the epidemic brings not only challenges, but also opportunities for companies to explore how to achieve more flexible and efficient operations and product innovation based on industry development and customer demand trends. This is also true for GE.

  He introduced that in the process of responding to the challenges of the epidemic, GE has made useful explorations in supply chain management, and through targeted allocation of resources to meet the most urgent needs and reduce the impact of the epidemic on operations; On the one hand, GE provides innovative technologies and digital solutions for the needs of the epidemic, and transforms these technologies into solutions that can be applied in the long-term and post-epidemic era.

China is still an important part of GE's global supply chain

  Affected by the epidemic, many countries have begun to require companies to move overseas production links back to the local area due to the need to maintain the security of their own industrial chain supply chains.

Under this circumstance, how attractive China is to investors and whether it can maintain its dominant position in the global industrial chain supply chain has attracted much attention.

  Xiang Weiming said frankly that the increasingly complex and severe global trade situation and geopolitical situation under the influence of the epidemic have indeed brought many unstable factors to the business development of multinational companies, but China is still an important part of GE's global supply chain and innovation base.

  He revealed that in view of the important strategic position of the Chinese supply chain in GE's global market, the company is constantly upgrading its local manufacturing capabilities and has achieved several major breakthroughs in the local supply chain.

For example, in June of this year, GE's current world's highest-end critically invasive ventilator production line landed at its Wuxi plant; in August, GE's Puyang Asia Pacific low-wind speed production base was completed and put into production, which is expected to develop into an onshore wind power integrated manufacturing and service base in the Asia-Pacific region.

  "The industrial chain system established by GE in China will play an active role as China further improves the level of the industrial chain and maintains the safety of the industrial chain." Xiang Weiming said.

  He said that China is not only an important part of GE's global supply chain, but also one of GE's most important strategic markets in the world.

The performance in China is critical to GE's global development prospects.

"We are pleased to see that China's economy has quickly recovered after the epidemic, and it is still one of the fastest growing markets in the world. This provides GE with confidence in continuing to invest in the Chinese market."

  Xiang Weiming stated that the GE China team has been actively communicating with the headquarters to better make correct and effective decisions based on the actual conditions of the Chinese market, ensuring that GE's long-term commitment in China and the core strategy of comprehensive localization remain unchanged and actively promote Investment plan in China.

Building a "smart hospital" will become the future trend

  Under the epidemic situation, the popularity of Internet medical services has greatly increased and become a new outlet in the medical field.

  In Xiang Weiming's view, as epidemic prevention and control becomes the norm, more accurate and personalized diagnosis and treatment will be the future trend.

The epidemic has made GE deeply appreciate the importance of more preventive and forward-looking smart medical services, and see the urgent needs for the construction of an "active defense" public epidemic prevention system, hierarchical diagnosis and treatment, and the implementation of digital smart medical applications based on Internet and AI technologies.

  GE Healthcare has been doing business in China for more than 40 years.

Xiang Weiming said that GE Healthcare is currently actively promoting the application of fever clinic upgrades, smart ICU/intelligent operations, and the combination of smart devices and AI-assisted diagnostic tools, accelerating the improvement of domestic supply chain capabilities and local service capabilities.

In the future, GE will also cooperate with more Internet companies and industry associations to improve the smart healthcare ecosystem.