Bosch continues to turn in steady investment

German technology and services provider Bosch Group said it will maintain annual investment of three to four billion yuan ($475 million to $635 billion) until 2015 to support sustainable growth in China, its third largest market.

"The steady growth in China is the consequence of our continuous investment and our consequent localization strategy," said Uwe Raschke, a board member with responsibility for Asia-Pacific.

Bosch had consolidated sales of 42.3 billion yuan in China in 2011, a growth of 13 percent over the previous year.

"With such growing momentum, China will continue to be one of the most important driving forces for further development of the Bosch Group," he added.

Automotive technology, its largest business sector, generated sales of 24.9 billion yuan, annual growth of 7 percent. It achieved a 28-percent increase to 10 billion yuan in industrial technology, while sales for consumer goods and building technology reached 7.3 billion yuan, a year-on-year jump of 18 percent.

In 2011, Bosch's investment in China continued to grow and reached 4.1 billion yuan. This investment further strengthened the core business of Bosch China.

"China's economy and development is expected to grow steadily and thus will keep its strategic market position within the Bosch Group," said Raschke.