(Yicai) Feb. 25 -- Hualian China Industry, a ceramic tableware manufacturer, plans to invest up to USD210 million to establish indirect subsidiaries in Vietnam and the United States as part of its global expansion strategy.

Hualian will set up wholly-owned subsidiaries in the Cayman Islands and Singapore, through which it will invest up to USD200 million to establish the Vietnam unit to produce tableware products, the Hunan province-based firm announced yesterday.

The Vietnam project will cover 321,900 square meters and includes plans for multiple new production workshops for molding, glazing, and clay preparation, along with raw material warehouses and supporting facilities, Hualian noted, adding that it will mainly make daily-use ceramic products.

In a separate announcement on the same day, Hualian unveiled plans to set up units in the Cayman Islands, Singapore, and Luxembourg to invest USD10 million in establishing a trading subsidiary in the US.

The investments will strengthen Hualian's global presence and expand its international operations, helping it better navigate global macroeconomic fluctuations, industry policy changes, and potential impacts from international trade dynamics, according to the company. The move will also enhance its scale, competitive position, overseas market share, and risk resilience, aligning with its strategic plans, it added.

The final investment amount for the Vietnam and US projects is subject to approval from Chinese and local regulatory authorities, Hualian pointed out, noting that it will use internal resources and financing to collect the funds.

Shares of Hualian [SHE: 001216] rose 1.8 percent to CNY12.88 (USD1.78) apiece as of 11 a.m. in Shenzhen today, after earlier jumping by as much as 3.5 percent.

Editor: Martin Kadiev