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20-05-2014, 07:54 PM
GE’s China boss Hutchinson still upbeat on growth
FERGUS RYAN BUSINESS SPECTATOR MAY 20, 2014 9:04AM
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GE Greater China president and chief executive Mark Hutchinson is confident about Chinese growth despite the slowdown in the world’s fastest economy and says he welcomes the government’s anti-corruption drive that is shaking up a number of industries including in the energy and healthcare sectors.
In an interview with Business Spectator, Mr Hutchinson, who was appointed head of GE’s China operations in 2011, said that despite the slowdown, China is increasingly important to the multinational.
“On industrial revenue now we’re getting up to 8 to 10 per cent globally and we continue to see the growth here,” Mr Hutchinson said.
“The chairman came here three times last year. He didn’t go to any other country three times.”
Mr Hutchinson said the size of GE’s businesses in China were continuing to grow and become an increasingly important part of the GE’s global operations.
“We sell more CT scanners and MRI’s here than we do in the United States” he said.
Mr Hutchinson welcomed the country’s recent anti-corruption drive saying the leadership was “doing a good job” and wished them all the best.
Fresh corruption charges were announced last week against executives of British drug maker GlaxoSmithKline. GSK executives have been accused of funnelling hundreds of millions of dollars in bribes to doctors and health officials.
“The focus on anti-corruption is huge and they’re looking at every industry and how to weed it out. And the way the pharma industry operated was wrong” Mr Hutchinson said.
Mr Hutchinson did not believe that multinationals were being unfairly targeted.
“You can’t say that the multinationals are targeted because the local companies also are targeted. If you as a multinational throw your own integrity book out the window in order to do more business in China, you’ll get caught,” he said.
“China is not the easiest place to do business,” Mr Hutchinson added.
“There are easier places to do business around the world but you have to do business here. So for us, the risk when doing business with China is not doing business with China.”
FERGUS RYAN BUSINESS SPECTATOR MAY 20, 2014 9:04AM
Save for later
GE Greater China president and chief executive Mark Hutchinson is confident about Chinese growth despite the slowdown in the world’s fastest economy and says he welcomes the government’s anti-corruption drive that is shaking up a number of industries including in the energy and healthcare sectors.
In an interview with Business Spectator, Mr Hutchinson, who was appointed head of GE’s China operations in 2011, said that despite the slowdown, China is increasingly important to the multinational.
“On industrial revenue now we’re getting up to 8 to 10 per cent globally and we continue to see the growth here,” Mr Hutchinson said.
“The chairman came here three times last year. He didn’t go to any other country three times.”
Mr Hutchinson said the size of GE’s businesses in China were continuing to grow and become an increasingly important part of the GE’s global operations.
“We sell more CT scanners and MRI’s here than we do in the United States” he said.
Mr Hutchinson welcomed the country’s recent anti-corruption drive saying the leadership was “doing a good job” and wished them all the best.
Fresh corruption charges were announced last week against executives of British drug maker GlaxoSmithKline. GSK executives have been accused of funnelling hundreds of millions of dollars in bribes to doctors and health officials.
“The focus on anti-corruption is huge and they’re looking at every industry and how to weed it out. And the way the pharma industry operated was wrong” Mr Hutchinson said.
Mr Hutchinson did not believe that multinationals were being unfairly targeted.
“You can’t say that the multinationals are targeted because the local companies also are targeted. If you as a multinational throw your own integrity book out the window in order to do more business in China, you’ll get caught,” he said.
“China is not the easiest place to do business,” Mr Hutchinson added.
“There are easier places to do business around the world but you have to do business here. So for us, the risk when doing business with China is not doing business with China.”