Xiangzhou District, Zhuhai

Japanese multinational giant Mitsubishi signed a letter of intent worth 50 million yuan ($7.4 million) with the Xiangzhou government on July 3, agreeing to setup a base producing advanced molds for use in high-end manufacturing.

Headquartered in Tokyo, Mitsubishi has operations across almost every industry, including energy, metal, machinery, chemicals, and food, as well as owning more than 200 branches and investment enterprises around the world, ranking 151st on the global top 500.

According to the agreement, Mitsubishi will develop the base in order to create molds for manufacturing using advanced 3D technology to print plastic stereotypes.

The signing ceremony took place at the Connection Conference of Zhuhai Service Trade Innovation Development, organized by the Municipal Bureau of Commerce.

According to one government official, the deal will help facilitate the development of trade in the district's services industry.

Mitsubishi is also mapping out a larger cooperation network with Zhuhai to establish a startup with AB Zhuhai engaged in metal 3D printing.

The Xiangzhou government signs an agreement with Mitsubishi Corporation on July 3, to create 3D molds for manufacturing. [Photo / WeChat account: xzinvest]