It has invested about 200 million yuan (US$24 million) in building factories and companies in China. More funds will be spent as the market is enlarged, said Yi Qianru, general manager of the Shanghai Eastern Crocodile Apparels.
"We take part of our annual profits as capital to launch expansion projects," said Yi.
Ang said CI has purchased a piece of land in Shenyang, Liaoning Province, to build a new factory as an expansion effort in China.
"As the new factory is completed, we will adjust our production to make China into our supplier centre for the world market," Yi said.
At present, Japan is CI's largest market, but China has a great potential to catch up with it, she said. To reach the objective, CI will reinforce its effort to bring the quality of the products processed by Chinese factories under control.
"We will co-operate with Chinese factories to produce qualified crocodile goods in accordance with CI's standards," Ang said, adding that the target can be reached within two to three years.
Crocodile International sold Cartelo products valued at 1 billion yuan (US$121 million) in the Chinese mainland last year, accounting for a 35 per cent share of the world market.
Ministry of Commerce - China
marketing@alchempro.com
