General Electric Co (GE) and its Chinese partners announced the signing of a series of "Country to Company" agreements aimed at promoting collaboration between GE and Chinese public and private sector aviation, energy and transportation organizations. The announcements, which were made as part of "GE's Clean Technology Week in China" activities, included the formation of two joint ventures - in avionics and locomotive engines; and the parties' agreements to explore future "cleaner coal" gasification and high-speed rail opportunities.
The company said that ventures will create jobs in both countries, including about 500 in U.S.
In a separate release, GE and China's Ministry of Railways announced that they signed a memorandum of understanding to jointly advance high-speed rail opportunities in the United States. This collaboration will allow GE Transportation to be the first U.S. locomotive manufacturer to more effectively compete for high-speed rail projects against global competitors. In addition, the partnership would accelerate GE's passenger rail technologies and create in the near future up to 150 high technology jobs in the U.S.
Separately, GE and Shenhua Group Corp announced that they have agreed to a framework for an industrial coal gasification joint venture which would combine GE's expertise in gasification and cleaner power generation technologies with Shenhua's expertise in building and operating coal gasification and coal-fired power generation facilities, to advance "cleaner coal" technology solutions in China.
The memorandum of understanding would result in a joint venture company, in which GE and Shenhua would execute a strategic vision for expanding to improve cost and performance of commercial scale gasification and integrated gasification combined cycle, or IGCC, solutions. This includes industrial coal gasification applications in China as well as jointly pursuing the deployment of commercial scale IGCC plants with carbon capture.
The parties anticipate that the transaction would be completed in the first half of 2010.
In yet another release, GE Transportation announced the formation of a joint venture company with CSR Qishuyan Locomotive Co., Ltd., a unit of China South Locomotive and Rolling Stock Corporation Limited, to develop, build and service GE's Evolution Series locomotive diesel engines in China.
The joint venture is scheduled to launch operations at the end of 2011, including the assembly, testing and overhaul of engine components such as power assemblies and turbochargers in China. During the second phase, starting in 2013 engines as well as components will be assembled, tested and overhauled.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.