Government News
Germany's Zeiss to buy land in Shanghai to build for China HQ campus 2025-02-06
Germany's Zeiss to buy land in Shanghai to build for China HQ campus
Zeiss Group, a German manufacturer of optical systems and optoelectronics, plans to acquire a land plot in Shanghai to build its comprehensive headquarters campus for China.
The campus will cover an area of 40,000 square meters, with a total infrastructure investment of more than CNY600 million (USD82.4 million), Frank Xie, Zeiss' chief operating officer for China, said at an event on Thursday.
"This is a strong signal of Zeiss' confidence in China's business prospects and commitment to investing locally," Xie noted.
China became Zeiss' largest market in 2021. In the fiscal year ended Sept. 30, 2024, the company's China revenue soared six-fold to record CNY15.2 billion (USD2.1 billion) from 10 years earlier.
The annual investment scale for major construction projects in Shanghai's Pudong New Area is expected to reach CNY169.2 billion (USD23.2 billion) this year, Xiao Lin, director of the district's development and reform commission, said at Thursday's event. The investment scale for science and technology projects will likely account for CNY121.1 billion or 71 percent of the total, Xiao added.
Source: Yicai Global
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