CEC to open headquarters in Futian
2012-November-21 Source: Szdaily web edition
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The largest State-owned IT company in China, China Electronics Corp. (CEC), will set up its international headquarters in Futian District, a company representative announced at a press conference Monday.

The international headquarters is an integration of four subsidiaries of CEC: China National Electronics Import & Export Corp., Shenzhen Aihua Electronics Co., China Electronic Appliance Corp. and SED Electronics Group, according to Chen Xu, manager of China National Electronics Import & Export Corp. and leader of the headquarters preparation.

"The international headquarters will focus on three projects: display technology, information security and electronic service," Chen said. "We also will actively explore international business and pay attention to e-business channels."

Chen said the international headquarters will seek overseas development by methods including transnational acquisition and industry relocation.

"Meanwhile, we will also introduce overseas-developed technologies and investment, seeking strategic cooperation," Chen said.

A Fortune 500 enterprise and world-leading supplier of key computer components, CEC's business has extended to more than 140 countries and regions, according to Chen.

The Shenzhen headquarters is expected to start functioning in management, business settlement, research and development and marketing within this year.

"The establishment of the international headquarters is expected to drive the district's ongoing efforts to develop a headquarters economy, as well as its transformation and upgrading," Yang Hong, head of Futian District Government, said Monday.

Yang pledged full support for the CEC headquarters.

Futian is home to headquarters of 183 enterprises, which generated an added value of 65.7 billion yuan (US$10.54 billion) last year, contributing to more than 31 percent of the district's GDP, according to Yang.

CEC has 54 subsidiaries, including 15 listed companies, and its business covers integrated circuits, software and panel displays. The company's sales revenue exceeded 168.2 billion yuan last year, with profits totaling 3.74 billion yuan.

Editor: Jecey
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