HP, Foxconn to set up laptop unit
Global computer maker Hewlett Packard (HP) and contract manufacturer of electronic products, Foxconn International Holdings plan to jointly invest $3 billion to build a manufacturing plant for laptops in Chongqing, the fifth major investment of HP's in this southwestern Chinese city in the past three years.
During the first half of 2009, central and western cities of China witnessed a faster economic rebound than coastal cities. The investment is seen as the latest effort by Chong-qing to emerge out of the global downturn.
According to the plan, the plant will be able to produce 20 million laptops a year when the project is operational in 2012. Most of the output would be exported to the European market.
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