On the list of Fortune Global 500, the Chinese electrical appliance maker Midea Group has announced its entry into the Pakistani home appliance market.
During a ceremony conducted in Karachi on March 29th 2022, Chinese Consul General Li Bijian inaugurated the local production of Midea’s products. China’s Consul General disclosed that Midea will begin operations with two items, microwave ovens and water dispensers, at the opening ceremony.
The manufacturing facility will be built with an investment of $1 million made by the Midea Group in Pakistan. It has invested $3.3 million in Pakistani businesses overall.
China’s Consul General in Pakistan remarked that Pakistan will save billions of rupees on its import cost and its trade deficit will fall even further as a result of Midea.
About the Company
Midea Group was established in 1968 and has its headquarters in Beijiao, Guangdong. More than 200 subsidiaries and 60 abroad branches make up the company’s workforce. RMB 25.5 billion in operating income, RMB 20.2 billion in net income, RMB 263.7 billion in total assets, and RMB 83.1 billion in total equity make up the company’s revenue, operating profit, and net income.
