HANGZHOU, Feb. 20 (Xinhua) — In the bustling clever manufacturing workshops operated by Italian agency Comer Industries (Jiaxing) Co., Ltd., 14 manufacturing traces are operating at full steam.
The clever workshops cowl an space of greater than 23,000 sq. meters and are positioned within the national-level financial and technological improvement zone in Pinghu City, a significant manufacturing hub of China’s Zhejiang Province.
The agency is engaged within the manufacturing of energy transmission methods and parts, and its merchandise are used primarily in building equipment, agricultural equipment and wind energy technology.
“The production lines started operation before the Spring Festival holiday was over in late January,” stated Mattia Lugli, the corporate’s common supervisor. “This year, the company plans to rent its fifth factory and introduce new intelligent production lines in Pinghu.”
“China is our most important market. Our production scale will continue to expand this year, with the output value expected to increase by 5 percent to 10 percent year on year,” Lugli stated.
Nidec Read Machinery (Zhejiang) Co., Ltd., a subsidiary of Japan’s Nidec Group, has lately launched a challenge in Pinghu. It is the Nidec Group’s newest effort to construct a brand new power automobile elements business base within the Yangtze River Delta area in east China.
Upon completion, the challenge may have an annual output of 1,000 items of drive testing tools for brand spanking new power automobiles. The tools may also be equipped to the flagship manufacturing unit of Nidec Automotive Motor (Zhejiang) Co., Ltd., one other subsidiary of Nidec Group in Pinghu.
The whole funding within the flagship manufacturing unit exceeds 300 million U.S. {dollars} — Nidec Group’s largest single abroad funding, stated Wang Fuwei, common supervisor of the Electric Drive System Department of Nidec Automotive Motor (Zhejiang) Co., Ltd.
Nidec Group has opened 16 subsidiaries 24 years after its institution in Pinghu, and made three investments in 2022 alone, with its enterprise scope overlaying telecommunications, residence home equipment, cars and companies.
Neo Ma, operations director on the German firm Stabilus (Zhejiang) Co., Ltd., stated that with the rising penetration charge of latest power automobiles in China, the Chinese market has change into the principle driving drive for the corporate’s revenue progress.
“This cannot be achieved without China’s dynamic market, sound business environment, complete supply chain system, and sufficient talent pool,” Ma stated.
“After China optimized its COVID-19 response, the offline brick-and-mortar catering industry is picking up. We are starting to build a curry production line to further meet the demand of the Chinese market,” stated Takehiro Ebihara, director-president of the Japanese firm Zhejiang House Foods Co., Ltd.
It would be the third curry manufacturing line on the firm’s Zhejiang plant, and it’ll change into an essential progress engine for the corporate within the subsequent few years, he added.
Data exhibits that the Pinghu financial and technological improvement zone has up to now gathered greater than 300 international enterprises, primarily within the superior tools clever manufacturing and biotechnology industries.
In 2022, the zone recorded the precise utilization of international funding totaling 210 million U.S. {dollars}, up 7.4 p.c 12 months on 12 months, amongst which the precise utilization of international funding in high-tech industries accounted for 76.27 p.c.
This 12 months, the zone will proceed to develop high-end foreign-invested industries and key foreign-invested initiatives, and domesticate superior industrial clusters.