A worker installs an engine on an excavator production line at the Volvo Construction Equipment (China) Co., Ltd. in east China's Shanghai, Dec. 17, 2020. (Xinhua/Fang Zhe)
As China continues to deepen its opening-up, more international manufacturers see promising opportunities.
SHANGHAI, Dec. 22 (Xinhua) -- Volvo Construction Equipment (Volvo CE), an international manufacturer of construction equipment, entered the Chinese market in 2002, establishing its headquarters in Shanghai.
With the COVID-19 outbreak slowing down the global economic momentum in 2020, multinational enterprises see promising opportunities in China as the country continues to deepen its opening-up.
In 2020 Volvo CE moved its Asian regional headquarters from Singapore to Shanghai, and Volvo CE in China saw increased production capacity this year, with annual sales expected to reach 6.7 billion yuan (about 1 billion U.S. dollars), up 42.5 percent year-on-year.
Aerial photo taken on Dec. 17, 2020 shows workers testing newly manufactured excavators at the Volvo Construction Equipment (China) Co., Ltd. in east China's Shanghai, Dec. 17, 2020. (Xinhua/Fang Zhe)
A worker fastens screws on an excavator production line at the Volvo Construction Equipment (China) Co., Ltd. in east China's Shanghai, Dec. 17, 2020. (Xinhua/Fang Zhe)
Workers test the transmission component of a vehicle on an excavator production line at the Volvo Construction Equipment (China) Co., Ltd. in east China's Shanghai, Dec. 17, 2020. (Xinhua/Fang Zhe)
Workers perform quality check on an excavator production line at the Volvo Construction Equipment (China) Co., Ltd. in east China's Shanghai, Dec. 17, 2020. (Xinhua/Fang Zhe)
Workers perform patrol inspection on an excavator production line at the Volvo Construction Equipment (China) Co., Ltd. in east China's Shanghai, Dec. 17, 2020. (Xinhua/Fang Zhe)
Workers install an transmission component to a vehicle on an excavator production line at the Volvo Construction Equipment (China) Co., Ltd. in east China's Shanghai, Dec. 17, 2020. (Xinhua/Fang Zhe)
A worker installs transmission shafts at an excavator production line at the Volvo Construction Equipment (China) Co., Ltd. in east China's Shanghai, Dec. 17, 2020. (Xinhua/Fang Zhe)
Workers operate on an excavator production line at the Volvo Construction Equipment (China) Co., Ltd. in east China's Shanghai, Dec. 17, 2020. (Xinhua/Fang Zhe)
A worker steps down from a just-cleaned new excavator at the Volvo Construction Equipment (China) Co., Ltd. in east China's Shanghai, Dec. 17, 2020. (Xinhua/Fang Zhe)■