Daily Management Review

IKEA to invest $ 1.41 bln in China


The company announced this at a briefing in Beijing, at which it outlined its strategy for the next three years, reports Yicai Global.

Yeyen Rosseau via flickr
Yeyen Rosseau via flickr
This is the largest annual investment in China in the history of IKEA, the Beijing Daily notes.

The local IKEA division will also recruit over 3,000 new employees in the new fiscal year.

The company is still evaluating and positioning additional projects, and the size of investments will increase even more in the next two years, the company promised.

The Chinese home furnishings market is currently in a period of steady growth, said IKEA China President Anna Pawlak-Kuliga.

Urbanization is gaining momentum in the country, its digital development is proceeding rapidly, and disposable income per capita is growing. All this has changed the way of life and consumption of people, she noted. The company is full of confidence in the Chinese market, President of IKEA China added.

China is the only market outside Sweden with a complete IKEA supply chain.

source: bjd.com.cn

Science & Technology

Live Facial Recognition Cameras Will Be Used By London Police

Driverless Vehicle For Its Ride-Sharing Service Unveiled By GM’s Cruise

Amazon will allow customers to pay with palms instead of cards

Complete Computer System For Self Driving Cars Launched By Qualcomm

In A Lifetime We Could Accumulate 20Kg Micro-Plastic In Our Body

Creator Of The First 'Gene-Edited' Babies Of The World Gets 3 Year Jail Term In China

China to deploy giant Beidou global navigation system in 2020

VW Zwickau factory is getting ready for electric cars production

Airbus: Passenger hybrid aircraft to take off before 2035

Ocado To Introduce ‘Mini Robotic Warehouse’ With Standard Productivity

World Politics

World & Politics

French tour operators will stop sending tourists to China until February 21

US Will Not Give Visas To Pregnant Women To Prevent Organized 'Birth Tourism'

Heads of the European Council and European Commission sign Brexit agreement

UK adds Greenpeace, PETA to extremist organizations list

Indonesia, UAE sign nearly $23B deal

US to respond to Iran’s attacks on US bases in Iraq

Irish Passport issues hit record in anticipation of Brexit

Reporters Without Borders calls to release Julian Assange