HP, Taiwan's Foxconn to build China plant: report

Aug 05, 2009
Models with Hewlett Packard notebooks. The US computer giant and Taiwan's Foxconn Group will jointly build a plant in China to make laptops and related equipment, a report said

US computer giant Hewlett-Packard Co. and Taiwan's Foxconn Group will jointly build a plant in China to make laptops and related equipment, a report said Wednesday.

The companies signed agreements on Tuesday with the Chinese authorities to invest 1 billion US dollars for a plant in the southwestern city of Chongqing, the Commercial Times reported.

Operations are expected to begin in 2012 with an annual capacity of 20 million laptops, or an annual value of 200 billion yuan (29.3 billion US), the report said.

Foxconn, also known as the Hon Hai group, is the world's top maker of outsourced electronics, making a wide range of products for companies such as Dell, Nokia and Sony.

Taiwanese businesses have funnelled 77 billion US dollars to the mainland in various projects since 1991, government figures show.

still regards as part of its territory awaiting reunification -- by force if necessary -- although the island has governed itself since 1949 at the end of a civil war.

Ties have improved dramatically since the Beijing-friendly President Ma Ying-jeou came to power last year pledging to boost trade and tourism with China.

-- Dow Jones Newswires contributed to this story --

(c) 2009 AFP

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RayCherry
not rated yet Aug 05, 2009
Is China really selling out,
or ... America finally buying in?

Is it "When East meets West",
or ... "When West moves East"? I forget. Mad cow.

Will American employees in China end up retiring on one hundred percent benefits in line with Chinese law, and if so will they feel obliged to refuse that money as it exceeds their private pension and health plan targets?

"Dang nabbit! Now Americans are better off in China"

By the way, "my fellow Americans", when you do arrive in your comparitively low-paid Chinese job, but higher standard of living, make sure you demand Solar Power instead of Coal, and Electric transport instead of Gas. Why? Because even though the Chinese will look at you funny, (and you won't be able to tell), if anyone can deliver to Americans what the Americans want, it is the Chinese.

Welcome to the new world ... the social capitalist, fundamentally liberal, West East=WEast, TamiSushiFlu, Virgin JaxaNasa ShuttleBus, McSwineBurger with Flied Lice ... world of Globalisation where equal opportunities employment in China means that every American can (finally) have a job, (teaching Engrish).

Don't rush to reply folks ... just read "The World is Flat" by your Thomas Friedman (twice preferably) and then get back to me. ;-)

Time was always the real terrifying enemy.
Use yours wisely. Xau!

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