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Governo Italiano

Italian Economic Diplomacy 02 April: breaking news from around the world

Date:

04/02/2021


Italian Economic Diplomacy 02 April: breaking news from around the world

CHINA: NEW ZOPPAS INDUSTRIES PLANT INAUGURATED IN JIAXING (ZHEJIANG PROVINCE)

A new Zoppas Industries production plant was recently inaugurated in Jiaxing, an important centre located a short distance from Shanghai and the third largest industrial centre in Zhejiang.

Zoppas Industries specialises in design, production and marketing of heating coils and systems for domestic and industrial applications. It has had a production plant in Hangzou since 2000, and this has gradually been extended to reach its current 54,000 sq.m. This is a highly successful Italian industrial investment, which currently provides jobs for 1,800 employees, and has reached turnover of about CNY 1 billion. The new Jiaxing plant, which covers an area of about 5,000 sq.m., involving an overall investment of about USD 5 million, is part of an expansion strategy that became necessary to deal with the increasing number of orders Zoppas obtained from the Chinese and Asia-Pacific markets.

Jiaxing’s strengths lie in the textile, chemical, automobile component and light engineering sectors, and it has various platforms for attracting foreign investment, including the JXEDZ. This is a nationwide industrial area that covers more than 110 sq.km and is home to 160 companies from more than 40 countries. Countrywide it is in fifth position for the use of foreign investments, as well as being home to about 2,000 private Chinese companies who have trade ties with Italy.


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