Local, overseas firms reaffirm China confidence, unveil slew of major investments in Minhang
Print Edition
A number of major investments have been announced by domestic and overseas companies in Minhang District in recent months. These developments highlight multinationals鈥 sustained confidence in China鈥檚 long-term growth prospects and their ongoing pursuit of deeper collaboration with local businesses and institutions.
Mistine
Mistine unveiled its China research and development center as an important step for its global R&D blueprint.
A renowned cosmetic brand founded in Thailand by Better Way (Thailand) Co in 1988, Mistine initially launched in China through online platforms in 2016 and quickly expanded to offline channels, acquiring a significant market share.
The strategic location advantage was an important consideration as Mistine set up its China R&D Center in Minhang District, the company noted.
Minhang is located at the southwest gateway of Shanghai, adjacent to the Hongqiao transportation hub, which provides the company with an efficient logistics network and a broad space of market expansion.
The district has also formed a complete cosmetics industry chain covering R&D, manufacturing and testing with leading beauty industry players and service providers such as Cosmax and InterCos, along with a number of leading international testing organizations. Its industry-academia-research cluster has greatly enhanced Mistine鈥檚 innovation efficiency, according to the company.
The inauguration of this R&D center reflects Mistine鈥檚 determination to stay committed to the Chinese market and its deep insight into local customers鈥 demand for high-quality offerings.
The center is equipped with industry-leading R&D equipment and lab facilities to focus on the study of cosmetic raw materials and products.
Mistine will also continue to focus on photobiology research, and seek to leverage artificial intelligence to facilitate its development in the medical aesthetics field.
In the next five years, it plans to invest hundreds of millions of yuan to carry out basic photobiology research at the site.
Headquarters building
Construction of the superstructure of the eastern China headquarters building of China Construction First Group Corp Ltd kicked off in late May in Minhang鈥檚 Qibao Town.
Sitting at the intersection of Wubao and Huxing roads, it consists of three underground floors and five floors above ground, with a total construction area of 29,000 square meters.
It鈥檚 expected to be the first carbon-neutral headquarters building in the district with the adoption of cutting-edge technologies to ensure energy-saving goals. It鈥檚 designed to be more healthier to live in and can significantly reduce energy expenditure.
It is estimated the building鈥檚 energy saving rate could reach 40.2 percent, with annual energy saving at 730,000 kWh, or 723 tons of carbon emission, and carbon reduction rate at 75.1 percent.
The design team has taken into full consideration Shanghai weather changes, and has adopted a number of technologies, including integrated photovoltaic solutions, high-efficiency server rooms, smart lighting solutions, smart operation and maintenance and climate-adaptive design.
The project will integrate high-tech, low-carbon, smart solutions and other advanced construction technologies, and as a central state-owned enterprise, China Construction First Group Corp Ltd will seek new collaboration models with the local government and companies to serve the integrated development goals of the Yangtze River Delta region.
AT&S
AT&S, Europe鈥檚 leading manufacturer of printed circuit boards (PCBs) and integrated circuit (IC) substrates, said it achieved sales increase in China in the past fiscal year which was faster than its global growth pace, and reaffirmed its commitment to China.
Zhu Jinping, AT&S Senior Vice President and Chairman of AT&S China, said at a recent news briefing in Shanghai that China business remains pivotal to its global strategy.
In its latest fiscal year, which ended in March, AT&S reported a revenue increase of 3 percent to 1.59 billion euros (US$1.82 billion).
AT&S set up its manufacturing base at Shanghai Xinzhuang Industrial Park in 2001 and has benefited from the efficient government service and superior business environment.
Zhu noted China鈥檚 booming electric vehicle sector also offered new business opportunities for the company.
AT&S will continue to deepen its local business layout, introduce advanced technologies to its factories in China, strengthen local R&D, and optimize supply chain management to maintain its competitive advantage in the complex and changing international environment.
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