STORY: German firm increases capital with confidence in Chinese market
SHOOTING TIME: March 1, 2024
DATELINE: March 8, 2024
LENGTH: 00:01:46
LOCATION: HANGZHOU, China
CATEGORY: ECONOMY

SHOTLIST:
1. various of employees working at the factory
2. SOUNDBITE 1 (Chinese): SHEN YAFENG, Operation manager of Thermofin Heat Exchanger (Pinghu) Co., Ltd.
3. SOUNDBITE 2 (Chinese): SHEN YAFENG, Operation manager of Thermofin Heat Exchanger (Pinghu) Co., Ltd.

STORYLINE:

Located in Pinghu economic and technological development zone of eastern Zhejiang Province, Thermofin is a German-funded enterprise specializing in high-end heat exchangers, and its products are mainly used in indoor ski resorts, high-end cold storage and other industries.

By combining technology with China's efficiency and production capacity, foreign firms like Thermofin choose to continue to increase their capital in China.

SOUNDBITE 1 (Chinese): SHEN YAFENG, Operation manager of Thermofin Heat Exchanger (Pinghu) Co., Ltd.
"Our business is now developing rapidly. Since entering the Chinese market in 2018, (our output value) has increased from 20 million yuan (about 2.78 million U.S. dollars), to 40 million yuan (about 5.56 million U.S. dollars), then 80 million yuan (about 11.13 million U.S. dollars), and to 150 million yuan (about 20.86 million U.S. dollars) now, so we are very excited about the development of the whole product mix."

SOUNDBITE 2 (Chinese): SHEN YAFENG, Operation manager of Thermofin Heat Exchanger (Pinghu) Co., Ltd.
"We have a demand for a factory area in the later stage. Following government policy requirements, we have made a land acquisition plan. In the future, we are planning for the first phase, covering an area of around 23,000 square meters, which is roughly four times the size of our current factory. At that time, our production capacity is expected to reach a maximum of around 600 million units."

The Pinghu economic and technological development zone of eastern Zhejiang Province houses nearly 300 foreign enterprises, including those from Japan, Germany, the United States, and Switzerland.

Xinhua News Agency correspondents reporting from Hangzhou, China.
(XHTV)