Gerard Kleisterlee, president and CEO of Royal Philips Electronics of the Netherlands, said on Saturday that his company expects its business volume in China to reach US$12 billion in four years, and China then will become the company's largest market.

Kleisterlee said he is confident about his company's rapid development in China, owing to years of successful operation here.

China is the most important part of Philips' development strategy, and the company will continue its efficient cooperation with this country, said Kleisterlee as he concluded a week-long visit to China Saturday.

Seventeen senior management members of the company had toured a number of major cities in China.

The giant company's business volume totaled US$6.7 billion in 2002 in China's mainland, which is now its second-biggest market after the United States.

(Xinhua News Agency November 30, 2003)