Siemens will invest over $1 billion in China over the next several years Siemens AG will invest around €400 million ($475.5 million) to strengthen its IT-related business in China, a company spokesman said Monday. The investment is part of a planned €1 billion that Siemens will invest over the next several years in China.The €1 billion will be divided among Siemens’ six areas of business — information and communications, automation and control, power, transportation, medical, and lighting — based on the percentage each business area contributes to Siemens’ total sales in China, said Peter Gottar, a spokesman for the company.The company’s information and communications business accounts for around 40 percent of Siemens’ sales in China, he said. Siemens’ investment plan is aimed at boosting the company’s total Chinese sales, currently around €4 billion per year, the company said in a statement, noting the company could double its sales in China over the next three to five years.As part of the investment in its information and communications business, Siemens plans to expand its research and development and software activities in China, it said, adding that it plans to step up development of software applications for the local and international markets.The company is also boosting mobile phone production in China, from 14 million units per year to 20 million units, it said. Software DevelopmentTechnology Industry