Midea (000333.SZ), China’s leading manufacturer of home appliances, will invest 10 billion Yuan (about 1.49 billion U.S. dollars) in building a digital science and technology industrial park, reported Shanghai Securities News recently.
Midea aims to build the industrial park into a demonstration zone for intelligent manufacturing and a green park for low-carbon manufacturing.
Fang Hongbo, chairman and president of Midea, said the company would continue to deploy and invest in new cutting-edge technologies to promote the construction of a manufacturing innovation hub.
After completion, the park would further help transform Midea from a globally leading manufacturer of home appliances into a sci-tech- and innovation-driven technology group.
The park is projected to generate an annual output value of at least 70.2 billion yuan (about 10.53 billion U.S. Dollars) after being put into operation in 2025.
