InterApp, a global valve manufacturer headquartered in Switzerland, opened InterApp China Co, a wholly owned sales company, in the Shanghai Hongqiao International Central Business District in Shanghai last September.
Since its establishment over just six months ago, the company has seen its sales revenue exceed 10 million yuan ($1.45 million). The Hongqiao CBD's support in opening a free trade account helped the company cut its exchange rate expenses related to cross-border trade.
InterApp is a relatively mature enterprise in the fluid industry, but its roots are actually in Europe. Due to high labor costs, time differences, aging personnel, and language differences, the original European headquarters was unable to better serve clients in the Asia-Pacific region.
As the only core node in the group's business layout, IA China coincides with the HUB concept of Hongqiao International CBD, according to Guido Baldini, CEO of InterApp AG.
"We have actually built it up to serve the Chinese market and to serve Southeast Asia in the future, which we believe will be a very important market for InterApp," he said.
"To produce and to sell our products here in China is very important for InterApp. For us to be here is ideal because we are close to infrastructure, close to the airport, and close to the train station. You have all that you need as a European company and you also feel like you're at home."
Moreover, there are many foreign-funded enterprises in the Hongqiao CBD, many of whom are invested by European and American enterprises just like IA, Baldini noted, adding in this way, the company can also build connections with them and better support each other.”
In a recent interview, Baldini said that he hopes the group can achieve sustainable growth in China and better integrate with the CBD's development.
