NEW YORK ( TheStreet) -- Dell's ( DELL) chief Michael Dell anticipates its revenues in China to come close to $5 billion this year, according to Reuters. Dell adds that the company would spend $25 billion this year for deals with Chinese suppliers and partners, according to Reuters. Dell was speaking in front of suppliers in Beijing on Wednesday. The company on Wednesday also said that it's angling to expand its services business in China organically as well as through acquisitions, as the industry as a whole pushes for a greater concentration of services amid a decline in earnings from its hardware product, according to Dow Jones Newswires. Dell's acquisition of Perot Systems closed in November, in a deal that Dell said would help it provide a broader range of IT services and solutions. Dell stock is down 1% at $15.10 Wednesday morning. -- Reported by Andrea Tse in New York Follow TheStreet.com on Twitter and become a fan on Facebook.