Zeiss China and the administration authorities of Waigaoqiao Bonded Area ink memorandum of understanding on Jan 11. [Photo/WeChat account: waigaoqiaowindows]

Zeiss China signed a memorandum of understanding with the administration authorities of Waigaoqiao Bonded Area in China (Shanghai) Pilot Free Trade Zone (FTZ) on Jan 11 to set up its China investment headquarters and China medical investment headquarters in the bonded area's Xin Development Park.

The German technology conglomerate established its first project for  an optical instrument trade arm  in Waigaoqiao in 1999. As trade volume increased, the group has been pumping in more investment to expand its business from manufacturing, research and development, and shared services, to digital innovation.

The trade company was upgraded to the China management headquarters in 2013 and joined Shanghai FTZ's Global Operation Program in 2020. During the same year, China became the largest single market in terms of revenue outside its home turf.

The establishment of two new operations is a good start for Zeiss in 2022, said Christian Mueller, chief financial officer of Zeiss headquarters in Germany, who attended the signing ceremony via video.

We are confident in Shanghai's future development and additional investments for China are in the pipeline, Mueller added.

According to Christian Martin, CFO of Zeiss China, the new operations will be committed to allocating the group's capital and businesses in medical and high-tech industries in a uniform way, building a hub for the group in China, the Asia-Pacific region and even the global strategic layout.