Baker Hughes eyes expansion of China business
Energy technology company Baker Hughes plans to expand its business in China, where the economy has clearly rebounded since the epidemic, the company said during an online interview for the China International Import Expo.
The company has many industry partners in China, covering major energy firms in the country, said Maria Sferruzza, president of Baker Hughes Asia-Pacific, who attended an online interview.
In 2017, the oil and gas unit of GE merged with Baker Hughes to form a new company. It now has business in 120 countries and regions with over 67,000 employees. Currently, its business involves four major sectors: oil field services, oil field equipment, turbine machinery and process equipment and digital solutions.
The company invests about three percent of its revenue on research and development globally. China has unique advantages among major economies as it has truly controlled COVID-19, and growth has rebounded quickly, Sferruzza said during the interview.
The company has signed agreements to join the next three CIIE events.