Foreign investment updates about China
Update (Divestment)
BYD, the world's leading electric vehicle (EV) manufacturer and Tesla's main competitor, has reportedly slowed down its plans to build a factory in Vietnam. This news comes despite an earlier announcement from the Vietnamese government in May 2023. Strategic Shift and Market Realities The decision to
Update (Divestment)
According to Reuters, Swiss bank UBS is reducing its presence in China's private funds market, shutting down a significant portion of its existing funds and laying off staff. The move comes amid cost pressures, fierce competition, and sluggish returns in the Chinese market. * Fund Closures and Staff Reductions:
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MGI Tech Co. Ltd. (MGI), a leading life science technology company, announced the opening of its Customer Experience Center (CEC) in São Paulo, Brazil. This new facility is dedicated to supporting the advancement of genomics research and applications in Latin America. Enhancing Healthcare through Education and Experience The MGI Brazil
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According to China News, Tesla has announced plans to open its first Megapack Super Factory outside the United States in Shanghai, China. The factory is scheduled to break ground in May 2024 and begin mass production in the first quarter of 2025. The Megapack Super Factory will produce Megapack, a
Update (Divestment)
Sumitomo Chemical has announced that it has agreed to sell its two Chinese flat panel display (FPD) process chemical subsidiaries, Sumitomo Chemical Electronic Materials (Hefei) Co., Ltd. and Sumitomo Chemical Electronic Materials (Chongqing) Co., Ltd., to Zhenjiang Runjing High Purity Chemical Technology Co., Ltd. (Runjing Technology). The sale is part
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BNP Paribas, a major global financial group headquartered in Paris, has secured approval from the China Securities Regulatory Commission (CSRC) to establish a fully owned securities brokerage unit in China. This marks a significant step for BNP Paribas as it expands its presence in the world's second-largest economy.
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German automaker Volkswagen is making a major commitment to China's electric vehicle (EV) revolution with a 2.5 billion EUR investment in its innovation hub in Hefei, Anhui Province. This strategic move highlights Volkswagen's focus on accelerating localization and catering directly to the needs of Chinese
Update (Divestment)
According to UDN News, Innolux, a leading provider of LCD panels and touch solutions headquartered in Taiwan, will close its Nanjing module factory and transfer its equipment to its Ningbo factory. The company is laying off employees in batches, affecting about 2,395 people. These employees will be provided with
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AstraZeneca, a global leader in biopharmaceutical research, recently signed a cooperation agreement with the Wuxi National High-Tech Industrial Development Zone Management Committee to invest $475 million in building a new small molecule drug factory in Wuxi. The groundbreaking ceremony for the new factory was also held today. This is another
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GoodWe, a Chinese manufacturer of solar inverters, recently celebrated the inauguration of its new factory in Vietnam. This significant development marks a major step forward for GoodWe's global ambitions. The factory, which spans an impressive 14,800 square meters, is designed in two phases. Phase I boasts production
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UTAS-NOVA Automotive Lighting Systems México, a Chinese automotive lighting company, is making an investment of over US$36.3 million to establish a new plant in Aguascalientes. This venture will not only mark UTAS-NOVA's entry into Mexico but also create 220 new jobs, contributing to the local economy.
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Japanese internet and network solutions provider, IIJ Global Solutions, has expanded its presence in China with a new sales office in Wuxi, Jiangsu Province. Wuxi is a major industrial hub in China, particularly for electronics, technology, and semiconductors. The new office will allow IIJ to better serve existing customers in
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Micron Technology, a leading global semiconductor company, recently announced the groundbreaking of its new packaging and testing factory in Xi'an. The project, with a total investment of 4.3 billion yuan, will further strengthen Micron's commitment to its operations, customers, and community in China. The new
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Asep Medical Holdings Inc., a Canada-based medical services company, announces a significant milestone in its joint venture with Sansure Biotech Inc. ("Sansure"), a leading Chinese biotech company. The joint venture company, Hunan Sanway SepSMART Ltd., has successfully obtained its business license and is now officially registered in Changsha,
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TrinaStorage Enters Latin America with New Office in Chile TrinaStorage, a leading global provider of energy storage solutions, has inaugurated an office in Chile, choosing Chile as its launchpad for entering the Latin American market. This strategic move aligns with Chile's ambitious clean energy goals, including the recently
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Chinese automaker Chery International and Vietnamese conglomerate Geleximco Group have joined forces to establish a new automobile factory in Vietnam. The signing ceremony, held on 4 April 2024, marks a significant step for both companies and the Vietnamese automotive industry. The $800 million factory, to be located in Thai Binh