Siemens Plans to Double Sales to China

The German engineering giant Siemens plans to invest over a billion dollars in China over the coming years and double its sales over the medium term in one of the world's fastest growing economies. The company plans to build research and development facilities in China and increase its software activities there. Siemens is celebrating one hundred years in China in Shanghai on Monday. The company currently employs around 30,000 people in the Asian country and the Munich-based firm's Chinese business brings in about four billion euros ($4.7 billion) in revenue a year.