Chinese Home Appliance Firms to Go on Investing in ASEAN Members Along BRI

In order to create electric hoover cleaners, Xinbao, a small home appliance company based in Foshan, constructed its first foreign facility there this year. According to Zhu Xiaomei, the company's Chief Marketing Officer of Overseas Marketing, sales of the facility will surge the next year.

According to Chairman Lu Yucong, Vanward is constructing its first overseas facility in Thailand, which is expected to start producing ovens and exporting them to Western nations by the end of the year. According to Lu, the company has planned trips to Thailand for companies in its supply chain and will think about inviting its domestic suppliers to join it there.

According to President Lai Yuwen of Foshan-based Vanward, building foreign plants will enable the company to match the greater expectations of its VIP clientele while increasing business scale and profitability. The company has already begun building its brands in South Asia and Russia.

According to Zhou Nan, secretary-general of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, Chinese home appliance companies have created a clustering effect in ASEAN. He included the Vietnam and Thailand air conditioning and other refrigeration appliance sectors as well as the electric hoover cleaner, phone and colour TV industries.