Foreign firms in Qingpu announce investment plans

Hu Min
Foreign firms based in Qingpu are betting big on China's growth prospects as economy recovers.
Hu Min

Foreign-funded enterprises in Qingpu District are making big plans for 2023 as China's economy recovers with great potential growth.

Klueber Lubrication, which provides tribological solutions to customers and has its China headquarters in the suburban Shanghai district, recently announced to invest multimillion euros on new production capacity in China from 2026 to 2029.

"In the four decades since Klueber entered China in 1980, the Chinese market has grown to be one of the most important for Klueber's global strategic development," said Claus Langgartner, CEO of Klueber Lubrication.

"China has a mature industrial chain as well as numerous market opportunities. Klueber will continue to invest in traditional industries while also working with customers and partners in emerging areas such as smart manufacturing, new-energy vehicles and renewable energy," Langgartner said.

"Klueber's global technological development has benefited greatly from Chinese market's innovation and talent," said the company's CTO, Martin Schmidt-Amelunxen.

Sealed Air Corporation, a packaging solutions provider, has unveiled its newly reinvented Asia Pacific Customer Experience Center at the Qingpu Industrial Park, which allows visitors to experience packaging techniques and innovation while also learning about the latest consumer and industry trends.

It features a retail showcase of packaging solutions, a central kitchen for food service packaging, an innovation hall, a learning zone, and a livestreaming studio. It also has a lab that is authorized to test, design and supply packaging solutions.

"We remain extremely confident in Shanghai as a location in which we can continue to invest in new innovations and talent while also promoting the development of the new economy," said Alex Zhou, vice president for supply chain of the company's Asia-Pacific division.

The experience center is in Qingpu, which also houses the company's largest manufacturing plant in the region, which opened in 2008.

Taking advantage of the Yangtze River Delta region's economic vitality, it now serves as a manufacturing hub for China and Asia Pacific, as well as an integral part of the company's global supply chain network.

"With China's reopening, we believe there could be no better time than now to work with customers on new opportunities that will come with economic recovery," Zhou said.

The company now intends to grow by double digits in the Asia-Pacific region.

"Shanghai provides a dynamic and conducive business environment as a result of its business-friendly policies, established infrastructure and service network," Zhou said. "The city has been supportive in key industry innovations that drive market growth."

"From our initial investment in Qingpu to the present, the district government's strong encouragement and guidance, particularly during the pandemic, has kept our business on a steady growth path," he added.

"As a result, we were able to expand our Qingpu operations and workforce to become a regional hub that not only serves China but also global markets."

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