Home appliance giant Hisense is headquartered in Qingdao, Shandong province. [Photo/Guanhai News]
More and more enterprises from Shandong's Qingdao are making efforts to expand their global footprint, adopting their own globalization strategies.
In May this year, the Haier Egypt Ecological Park was officially opened, with the first batch of products already delivered. In the same month, Hisense Group held a groundbreaking ceremony for its factory in Mexico. Sentury Tire's factory in Morocco is expected to start production in the second half of the year.
An increasing number of Qingdao enterprises are beginning to explore global markets and establish a global presence, leading to the emergence of more local multinational companies.
As early as 1996, Hisense South Africa was established, taking the first step towards globalization. In 1999, Haier built a factory in South Carolina, the United States, mainly producing high-end refrigerators such as large double-door models. Jifa Group was one of the first textile companies to establish factories in Southeast Asia, setting up a clothing factory in Vietnam in 2005, with an annual production capacity of over 10 million knitted garments.
Recently, Haier Group's home appliance listed company, Haier Smart Home, acquired the South African water heater brand under the Swedish Electrolux Group for 980 million yuan ($137.25 million).
As the first enterprises in Qingdao to expand abroad, Haier and Hisense currently each have over 30 production bases worldwide, with overseas markets being a top priority for both companies.
Source: China Daily
