The Sino-Japanese funded Shanghai Hitachi Electrical Appliance Co., Ltd. will increase its annual production capacity to six million air conditioner compressors in the near future.
Shanghai Hitachi President Shen Jianfang said that his company aims to become the world's largest supplier of compressors for air conditioners.
Shen said that there will be a great potential market for air conditioners both in China and overseas after China enters the World Trade Organization.
Shanghai Hitachi is now the leading producer of compressors for air conditioners in China. It manufactured three million compressors by November 8 of this year.
The Chinese-controlled company was founded in 1993 with more than US$55 million in total investment.
However, both Chinese and Japanese investors have renewed their investment in the venture seven times, and it now totals US$218
million.
(People's Daily 05/21/2001)
