Mar., 07 /GE Medical Systems, an important unit of General Electric (GE), is set to double its business volume in China in the next three years.

GE Medical China's business volume is estimated to have reached US$1 billion in 2002 after a steady 50 per cent annual growth.

As a major part of GE's Chinese operation, GE Medical Systems will make large contribution to the target of an annual purchase of US$5 billion before 2005, which was set by Jeffrey R. Immelt, GE chairman and CEO.

Its Chinese shopping list is expected to grow by more than 50 per cent to US$300-400 million in 2003.

Now, except for the Japan-based boss and financial officer of Asian headquarters, all GE Medical Systems' Asian centre for business, finance, technology, information, and marketing has moved to China.

GE Medical System's industrial park in the Beijing Economic-Technological Development Area has became one of the top three R&D centres of GE Medical in the world.

The park, occupying 60,000 square metres with a total investment of US$40 million, can make medical diagnostic equipment, including computed tomography scanners, magnetic resonance systems and x-ray equipment.

The industrial park has enabled China to become one of the world's top production bases of CT scanners by providing 25 per cent of total global demand every year, Chen said.

It is expected the industrial park will provide US$350 million worth of manufacturing and US$750 million worth of purchasing list in three years, said John Ma, vice-president of GE Medical Systems China.

Now exporting 70 per cent of its products, GE Medical China wants to increase its domestic sales to 50 per cent, to tap into the growing Chinese market.