Bosch plans to invest €550 million euros ($US736 million) in China in the next three years, a senior board member told the Financial Times.

Reuters reported that Rudolf Colm, a board member responsible for Bosch's Asia-Pacific business, told the newspaper the money would be spent on factories and would double the company's Chinese investments.

He reportedly said Bosch, a privately owned industrial goods company, saw "enormous potential" in China and predicted a rise in vehicle sales there after 2006, which would help its automotive parts business.

The FT reportedly said vehicle components accounted for 65% of Bosch's €36.3 billion worldwide sales last year.

Colm said a €30 million advertising campaign would support its expansion in China, Reuters added.

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