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Panasonic to build new consumer electronics plant in China

The first such plant in 16 years comes despite US-China trade war

  © Reuters

HANGZHOU, China -- Japan's Panasonic will build its first consumer electronics plant in the country in 16 years, people familiar with the matter said Friday, bucking the trend of manufacturers leaving China to avoid the U.S.-China trade war.

The 4.5 billion yen ($41 million) plant will make kitchen appliances such as microwave ovens and rice cookers, and is scheduled to begin production in 2021. Panasonic decided to build the new factory in Jiaxing, Zhejiang Province, anticipating medium- to long-term growth in China.

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