Shi Lei, deputy general manager of the Tianjin Matsushita Electronic Components Co., said the increased investment will be used to expand Tianjin Matsushita's production capacity of electronic components used in mobile phones, beepers, computers, television sets, recorders, video recorders, programmed telephone switchboards and other consumer electronic products.

Tianjin Matsushita was jointly set up by two subsidiary companies of the Japanese company and Tianjin Zhonghuan Electronics Co in 1995, with the Japanese partners accounting for 93.5 percent of the registered capital totaling 8 billion yen.

About 75 percent of the products manufactured by the joint venture are exported to Japan, European countries, the United States, Oceania and southeast Asian countries.

The joint venture became profitable last year making 108 million yuan profit and a total sales revenue of 700 million yuan.

(Xinhua 03/26/2001)