Homma Tetsuro, director of the Media Business Unit at Matsushita Electric Industrial Co, which trades as consumer electronics firm Panasonic, met with Wuxi Deputy Mayor Wang Jinjian on May 23 to discuss further cooperation and investment in the city, Wuxi Daily reported.

Wang hoped that Panasonic will expand investment in Wuxi to adjust and optimize its industrial structure and promote local innovation, as well as boost regional economic development.

Tetsuro said that its Wuxi base has made great progress in the city over the years. The company will continue to stick to the localization strategy and foster further economic benefits. It will commence the construction of a logistics center covering 25,000 square meters in a bid to reduce logistics cost and enhance competition ability in the market.

Located at Wuxi-Singapore Industrial Park, Panasonic’s Wuxi production base of refrigerators and compressors enjoys a good reputation for its efforts to promote environmental protection.