LiuGong, a global leader in manufacturing a full line of extreme duty equipment, opened its Hong Kong subsidiary on May 7 at The Park Lane Hotel. Wang Xiaohua, Chairman of LiuGong Group; Zeng Guang’an, Chairman of LiuGong Machinery and President of LiuGong Group; and other top management, as well as LiuGong business partners, attended the opening ceremony and witnessed the historically significant moment.
In 55 years, LiuGong started from the ground up and now has 10 subsidiaries, seven spare parts depots and two overseas manufacturing operations around the world. It also has over 320 overseas dealers across 130 countries and regions with more than 30% revenue from the market.
The establishment of Hong Kong subsidiary will improve LiuGong’s expansion in overseas markets and help with long-term stable growth. It is also an important step for LiuGong to optimize overseas capital management, achieving its commitment of improving business value chain, foreign exchange and financial leasing management.
“Capital operation is critical during the whole process of LiuGong’s globalization,” said Guang’an at the opening ceremony. “We should pay more attention on tax, financing, foreign exchange management for better development of our overseas market. Located at the center of the Asia Pacific region, Hong Kong has a sound legal system and an excellent free trade market. We believe the establishment of LiuGong Machinery Hong Kong Co. Ltd. will play an increasingly important role in our overseas expansion.”
