TCL Gains Tax Perks With Hefei Manufacturing BaseOctober 30, 2012 | Print | Comments | Category: Business, Gadgets & Electronics
Chinese consumer electronics maker TCL and Feixi county in Hefei signed a cooperation framework agreement under which TCL will build a white goods base in the city.
According to the agreement, TCL plans to establish Feixi county as its refrigerator and washing machine strategic center in China. The company will develop a manufacturing base with annual output of eight million refrigerators and washing machines and a related research institute. Meanwhile, it will attract upstream and downstream sourcing companies to enter the base, so as to help Hefei improve the competitiveness of its home appliances industry chain.
In return, the government of Feixi county will fully support the construction of this new refrigerator and washing machine base by providing land and preferential tax policies.
Li Dongsheng, chairman of TCL, said that Hefei has geographical advantages and it is becoming an important regional transport hub in China. It has a strong industrial foundation with over 200 industrial sectors in 35 industries. Moreover, it has formed the largest refrigerator and washing machine industrial segment in China, providing complete white goods manufacturing facilities and other advantageous conditions covering product research and development, raw materials and parts procurement, logistics and delivery, and talent storage.
Li said the supply chain and talent advantages in the city can promote the construction and development of its new base and the company is very optimistic about the future of Hefei and the investment environment of Feixi county. The Hefei refrigerator and washing machine strategic base will aid TCL's growth in medium- and high-end market as well as the export market.
Statistics provided by TCL showed that due to the active expansion in the Chinese market, the company's home appliances business maintained good performance from January to September 2012, and its sales of refrigerators and washing machines saw year-on-year increases of 31% and 46%, respectively.
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