The Chinese company Fortune 500 Global Listed Company starts production in Pakistan

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 The Chinese company Fortune 500 Global Listed Company starts production in Pakistan

Midea Group, a Chinese manufacturer of Fortune Global 500 electrical appliances, has officially entered the home appliance market in Pakistan.

According to details, Chinese Consul General Li Bijian began local production of Midea products on Tuesday during a ceremony held in Karachi.

During the opening ceremony, the Chinese Consul General announced that Midea would initially start operating with two products: microwave ovens and water dispensers.

He added that Midea Group had invested $ 1 million in Pakistan in the construction of its factory. The company has invested a total of $ 3.3 million in various companies in Pakistan. The Chinese consul general stressed Midea's impact on Pakistan's economy, saying the country could save billions of rupees on its import accounts and that its trade deficit would be even smaller. Midea, headquartered in Beijiao, Guandong, was founded in 1968. The company employs hundreds of thousands of people in more than 200 branches in 60 overseas branches.

The company has revenues of RMB 261.8 billion, a business life of RMB 25.5 billion, net income of RMB 20.2 billion, total assets of RMB 263.7 billion and total capital of RMB 83.1 billion.

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