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Construction of the Siemens Industrial Park in the Pudong New Area, Shanghai, was completed Monday.
The industrial park, which covers 55,000 sq. meters at a cost of US$120 million, is located in the Pudong Jinqiao Export Processing Zone.
The park was funded by the Siemens Shanghai Mobile Communications Ltd., a foreign-funded company set up in 1993. Last year Siemens Shanghai manufactured 10 million cellphones and had sales of 7.4 billion yuan (US$891 million).
China is now the third largest market for Siemens, after Europe and the United States, according to Siemens President Heinrich V. Pierer, who is in Shanghai to attend the opening ceremony of the industrial park.
(Xinhua 01/09/2001)
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