With approval from the Ministry of Foreign Trade and Economic Cooperation (MOFTEC), 48 enterprises in Qingdao, a port city in east China, have opened factories and branch companies in 11 countries and regions. Their combined investment abroad totaled 85.96 million U.S. dollars.
Haier Group, a renowned home appliances manufacturer, has founded or is to set up factories in about 10 countries and regions, including the United States, Brazil and Iran. Hisense, another home appliances maker, has opened television factories in South Africa and India. Aukma is preparing to open factories making washing machines and air conditioners in Egypt and Viet Nam. Over 20 enterprises in the fields of textiles, garments, household electric appliances, chemicals and pharmaceuticals have applied for starting businesses in other countries so far this year. Among them are a number of township and private firms. Analysts attributed the expansion of overseas operations to a series of preferential treatments on investment abroad respectively granted by the central and city governments last year.
With approval from the Ministry of Foreign Trade and Economic Cooperation (MOFTEC), 48 enterprises in Qingdao, a port city in east China, have opened factories and branch companies in 11 countries and regions. Their combined investment abroad totaled 85.96 million U.S. dollars.
