A leading toymaker from Hong Kong will continue its large operations in Guangdong province despite the global financial crisis that has hit the regional economy, Li Zhiyuan, honorary chairman of Jetta Co Ltd said.
Jetta currently has six factories in Guangdong that together cover more than 450,000 sq m of floor space and have a combined workforce of 35,000.
For more than 30 years, Jetta developed capabilities in design, product development, procurement, quality management and manufacturing control to become now one of the most recognized engineering and OEM manufacturing specialists in its field.
Since its establishment in 1977, Jetta has made a broad range of toys and gifts. It is one of the largest OEM manufacturers in the world producing both toys and other products.
"We are one of the first batch of Hong Kong companies that invested in Guangdong just after the opening up policy began," Li said.
In the beginning the company employed only 25 workers.
"We have overcome many difficulties in the past, so we are not afraid of the current financial crisis at all," Li said.
Last year, many toys made in China were recalled due to safety concerns, but none were Jetta's, Li said.
In the first 10 months this year, its number of orders was 10 percent higher than the same period last year.
Li said some companies have already collapsed due to the recession, but Jetta is in fact benefiting.
"Some orders that were given to other companies in the past have been given to us since they have shut down," he said.
Li said he appreciates what the local government has done for his company and likes the investment environment of Guangdong.
The company once tried to invest in other developing countries, such as Vietnam and the Philippines.
"But all the attempts failed," he said. "Hong Kong investors have many advantages in Guangdong, such as the same language and have the same culture with local people."
Source: China Daily