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Hitachi to invest in SZ
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JAPAN'S Hitachi group announced at the end of last week that it will invest US$29 million in setting up China's first factory to produce tubes for rear-projection TVs in SZ in June.
Rear-projection TVs feature huge screens and sharp images.
Hitachi said that with the rapid popularization of DVDs and increasing demand for high-definition big screen TV sets, China has developed an insatiable demand for rear-projection TV sets.
It is released that the new production line, to be established in the Longgang Grand Industrial Zone, is expected to enter operation in July, 2002, with annual production capacity reaching 1.3 million by 2004.
One of the top 500 firms in the world, Hitachi was among the first wave of foreign investors in China. Currently it runs 23 joint ventures across the country. More than 50 per cent of the world's rear-projection TV products are made by Hitachi.
(Li Jing)
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