China's Midea Group invests another $43m in industry investment fund

China's Midea Group invests another $43m in industry investment fund

Gray steel 3-door refrigerator near modular kitchen. Source: Naomi Hébert/Unsplash

Midea Innovation Investment, a wholly-owned affiliate of Chinese electrical appliance manufacturer Midea Group, has agreed to invest another 300 million yuan ($43 million) in an industry investment fund, seeking to further optimize the company’s industrial layout and enhance its competitiveness.