Samsung Electronics increases expansion efforts in China

South Korean tech company Samsung Electronics Co Ltd has intensified efforts to expand investment and promote technological innovation in China and shifted its focus to high-end manufacturing.

Geol Yang, president of Samsung Electronics China, said the company has invested $24 billion in the Chinese market in the past six years, and the investment in advanced industries has accounted for about 80 percent of its total investment in China.

According to him, Samsung Electronics China has purchased products worth more than 120 billion yuan ($16.5 billion) from over 3,000 upstream suppliers from 2018 to 2022.

The company has invested in several new projects in Xi'an, Shaanxi province and Tianjin, including multilayer ceramic capacitors, which serve as key components of electronic equipment, new energy vehicle batteries and semiconductors.

"We have deeply integrated into the Chinese market and are optimistic about the potential of China's economic growth," he said, adding he has felt China's firm determination to expand opening-up and attract foreign investment.

The company has showcased its latest technologies during the ongoing CIIE, such as micro light-emitting diode or micro LED panels, memory products with ultra-high speed and high bandwidth, automotive-grade chips and foldable smartphones.