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Chinese bearing enterprises enter the core area of American automobile industry

2021-09-10

CW, a subsidiary of China's Cixing Group, launched its North American manufacturing center in Detroit on the 25th, indicating that another Chinese high-end manufacturing company has entered the heart of the U.S. auto industry. This manufacturing center will provide steering system bearings for the U.S. best-selling Ford F150 pickup truck.

In the brand-new workshop of Cixing Group, a Chinese bearing manufacturer located in Northville, the northwest corner of the Detroit metropolitan area, fully automated production equipment has been installed and commissioned, and is about to run at full capacity to provide bearings used in steering systems for the U.S. Ford, General Motors and other automotive giants.

At the launching ceremony, Hu Xiangen, Chairman of Cixing Group, said that the establishment of the North American Manufacturing Center marked "a solid step towards transformation and upgrading" and was a perfect interpretation of the Group's development concept : "Market globalization, talent internationalization and products upgrading".

Chinese Consul General in Chicago, Hong Lei, attending the launch ceremony said that this is an important greenfield investment by Chinese enterprises in Michigan and another example of the development of investment partnership between Chinese enterprises and Michigan, which will provide high-quality products for American customers, create more jobs for the local area and bring more tax revenue to the local government. He said this fully illustrates that the U.S.-China economic and trade partnership is a win-win cooperation.

Chinese companies have been investing rapidly in the U.S. in recent years. A joint report by the National Committee on U.S.-China Relations and Rongding Group shows that by the end of 2016, the stock of Chinese companies' direct investment in the U.S. was about $110 billion, creating a cumulative total of 141,000 direct jobs in the U.S.