(Yicai Global) Nov. 27 -- Henglin Chair Industry will invest USD48 million through its wholly-owned Hong Kong unit to set up a furniture production base in Vietnam, as it bids to avoid impending risks from China-US trade frictions while looking to expand into markets in Southeast Asia and other countries.

Henglin's board meeting decided to set up a wholly-owned affiliate in Vietnam as the builder and operator of the production base, the furniture manufacturer based in east China's Zhejiang province announced yesterday.

However, the announcement did not give further details about the Vietnam project.

Several domestically-listed companies have announced plans to build factories in Vietnam in recent months in the face of China-US trade frictions.

Editor: Bivash Mukherjee