China's major heavy machinery maker, Sany Heavy Industry Co, plans to enter the nuclear power and jet engine manufacturing business, according to Xiang Wenbo, president of the company.
"These are our goals and part of our strategic plan," said Xiang on the sidelines of the annual session of the National People's Congress. But he did not reveal a timetable for the foray into these sectors.
Xiang said Sany aims to become the General Electric of China. And the company has already set up plants in the wind power sector in addition to machinery making, its core business.
China still prohibits private enterprises to enter some core industries, but Xiang said he believed private enterprises would eventually gain the government support and the green lights.
