GE Healthcare China (Wuxi Medical) celebrated its 20th anniversary on May 22, Wuxi Daily reported.

To date, it has hundreds of international and national patents with a total investment of more than 1 billion yuan ($153 million) for funding research and development. It has rolled out 65 new products. As GE's largest ultrasonic production base in the world, its high-end ultrasonic equipment ranks top among the industry.

The company recently signed a strategic agreement with Wuxi People's Hospital for cooperation in production, teaching and research to lay a foundation in the local medical service market.

Established in 1996, GE Healthcare's Wuxi subsidiary has developed from a single assembly plant of ultrasonic products to an advanced manufacturing company integrating seven production lines, customer service and talent training.

The company has a 100 percent localized rate in R&D, purchase and production for its ultrasonic equipment. Its ultrasonic product team is composed entirely of local staff from employees to management.

"We are committed to creating the most localized multinational company as well as the most globalized local company," said one official of GE Healthcare's Wuxi subsidiary. The company adopts a reverse innovation strategy to constantly provide affordable products and solutions to meet the demands of the Chinese market.