General Electric Co. Chief Executive Jeffrey Immelt complains it is getting more difficult for multinational companies to operate a business in China.
Quoting a person who heard Immelt make the remark at a private dinner for Italian businesses, the Wall Street Journal says the remarks show a mounting "irritation with China."
The Journal notes that when GE opened a technology center in Shanghai in 2008, Immelt expected to double its business in China to $10 billion by 2010. But it appears the company may not reach that goal, with China revenue reaching only $5.3 billion in 2009, up from $4.7 billion in 2008.
Despite Immelt's remarks, the company has declared that its strategy for China remains the same.