Bosch continues expansion in midwest China

The German-based Bosch Group would continue expanding its business in midwest China due to the region's huge economic growth potential, a senior company official told Xinhua recently.

Uwe Raschke, a member of the Board of Management responsible for Bosch's business in the Asia Pacific, said Bosch was following the Chinese government's strategy of going west and had invested a total of 1.1 billion yuan (about 179 million US dollars) in the region in 2011 and 2012.

He said Bosch had opened plants in midwestern cities such as Chengdu, Xi'an, Wuhan, Changsha and Chongqing, and about a quarter of Bosch's employees worked in the region.

"The strategy is quite clear: we go where our customers are," he said, adding there was a growing demand for the company's products in the region.

As one of the world's most recognized technology and services companies, Bosch entered the Chinese market as early as 1909. "China is very important in Bosch's worldwide long-term strategy," Raschke said.

In the past 10 years, Bosch has achieved a 25-percent compound annual growth rate in China, and recorded sales revenue of 5.1 billion euros (6.6 billion dollars) last year.

China has now become one of the most important business regions for the company with some 34,000 employees. "In the long term, China will become even more important," Raschke said.