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As a manufacturer of machinery and systems for production and processing of rubber and plastics, KraussMaffei plans to further enhance its local capabilities and provide customers with one-stop solutions. The new plant will double the company's production capacity in China, Cui said.
As a main assembler of Apple's iPhone, Foxconn acquired Japanese electronics giant Sharp Corp to rejuvenate Sharp's television business and increase its production of LCD panels last year, to find a new growth driver at a time when global demand for smartphones is faltering.
As a result, gross profit of China's large mining companies climbed 31.9 percent yea-on-year to 146.7 billion yuan in the first 11 months in 2018. Meanwhile, profit of large and medium steel companies totalled 280.2 billion yuan, up 63.5 percent year-on-year, according to industry data.
As a result of Beijing's expansion in recent decades and soaring real estate prices, as many as 5 percent of residents live more than 25 km from their workplace, which means a round trip of 50 km every work day.
As a signal of Italy's enthusiasm to foster deeper China ties, Tria visited the nation on his first overseas trip outside Europe since taking office this June.
