Array

BEIJING, May 29 (Reuters) General Electric Co. , the world's second largest company by market capitalization, could double its business in China in four or five years, chairman and chief executive Jeff Immelt said on Monday.

''We see continuous growth and business in China could double in four or five years,'' he told reporters.

GE is considered a barometer of the U.S. economy due to its size and scope. The conglomerate has a financing arm and manufactures goods including plastics, health care products and jet engines.

The company reported first quarter net income of $4.31 billion, or 41 cents per diluted share, up from profit of $3.97 billion, 37 cents per share, a year ago.

(US$=8.02 yuan) REUTERS CS KN1143