Founded in 1847, Siemens AG is a global leader in electrical and electronic engineering. Since its entry into China in 1872, Siemens has persistently provided comprehensive support to China's development with innovative technologies, superior solutions and products for more than 140 years, and has established its leading position in the Chinese market with outstanding quality and trustworthy reliability, leading technological achievements, and the relentless pursuit of innovation.In 2014 (October 1, 2013 to September 30, 2014) , Siemens' total revenue in China reached EUR 6.44 billion with more than 32,000 employees. Siemens has grown to become an integral part of China's society and economy, and is dedicated to working hand in hand with China *** with a shared commitment to sustainable development.
In September 2014, Siemens AG and the Bosch Group reached an agreement: Robert Bosch GmbH will acquire Siemens' 50 percent stake in the joint venture Bosch and Siemens Home Appliances Group (referred to as Borsey Home Appliances), and Borsey Home Appliances will become a wholly-owned subsidiary of the Bosch Group after the transaction is finalized, with Siemens completely withdrawing from the home appliance sector. The sale of the home appliance business is one of the embodiments of Siemens' strategy to focus on electrification, automation and digitalization.