Foreign firms cash in on China's manufacturing sector upgrades

HEFEI - Hefei, once considered a rural backwater, has become a favorite among multinational companies thanks to the rapid development of its manufacturing industry.

Whirlpool Corp, a United States home appliance maker, opened its new China headquarters and global research and development center in the city on May 24. A day later, Volkswagen AG, together with its Chinese partner JAC Motors, launched its first domestically made electric SUV in Hefei, capital of Anhui province.

"China is developing faster than the rest of the world on new energy vehicles, intelligent transportation and connectivity. Volkswagen strongly takes it into account," said Jochem Heizmann, Volkswagen Group China president and CEO.