At the beginning of January, a ceremony was held in Zhongshan to mark the signing of a project investment agreement between Mingyang Group and the local government. Under the agreement, Minyang will invest RMB 1.5 billion in a base for assembling equipment used in the manufacturing of PV products featuring the HJT technology. Zhongshan is a well-known city in China’s Guangdong Province. This event was first reported by other Chinese media outlets including Xinhua News Agency.

The base will comprise 10 smart production lines for equipment used in the manufacturing of HJT products, a subsection related to smart power equipment (first phase), a subsection related to solutions for capping and reducing CO2 emissions (first phase), and other facilities for the manufacturing of advanced equipment. The base is expected to take about five year to build, and its annual output value is estimated to reach RMB 40 billion.

Guo Wenhai, municipal party secretary of Zhongshan, attended the signing ceremony and remarked that the city is committed to carry out the economic development strategy of the provincial government. Specifically, Guangdong’s party committee wants to keep the manufacturing sector as the foundation of the the province’s economy. Furthermore, the province aims to attract industries, corporations, platforms, investment projects, and industrial ecosystems that are “huge” in scale. Guo stated that the government of Zhongshan intends to foster a strong local manufacturing sector by upgrading the efficiency of local industrial parks, capturing opportunities for high-quality economic development, and maintain a friendly business environment.

Chang Chuanwei, chairman of Mingyang Group, said his company hopes that with the RMB 1.5 billion investment, an innovative R&D and manufacturing hub will land in Zhongshan. Chang added that his company’s two HQs and three main operations (i.e., solar PV, green hydrogen, and emission-cutting technologies) will form the demand pillars that support the base in Zhongshan. Furthermore, the base is expected to encourage the aggregation of industry talents, innovations, and capital within the vicinity of the city.

Zhongshan is the home of Mingyang Group. The company was established in 1993 and has rooted itself in the city for 30 years, building up and upgrading the local manufacturing sector. Thanks to this symbiotic relationship between the company and the city, Mingyang Group is among the top 500 companies in China and the top 500 companies worldwide in the field of new energy technologies. The present goal is to become one of the global top 500 companies across all industries.