HK textile giant to sink RMB39.6b into 3 projects in Chengmai, Hainan
According to the agreement, the company will invest 39.6 billion yuan into three projects in the county, including the Fushan Coffee Culture Town and its supporting 5-star hotel, the International Institute of Fashion Design, and the High-tech Mechanical Production & Research Park.
Lin Jinbiao, general manager of the Yumin Group, showed great confidence in the investment climate of Chengmai County. According to Lin, a total of 33 billion yuan will firstly be put into the construction of the High-tech Mechanical Production & Research Park.
Yumin Group owns 11 patents and three long-established brands in Germany. As there are hardly any self-owned luxury brands in China, the company plans to set up the International Institute of Fashion Design in Chengmai, in a bid to attract influential fashion designers to Chinese clothing enterprises. It’s estimated that this project will take eight years and require an investment of 5 billion yuan to construct the institute.
In addition to this, the company will also invest 1.6 billion yuan to build a coffee trading platform in Fushan.