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Gree Electric Appliances to build national research center

Published: 25 Mar 2009 23:40:01 PST

Mar. 26, 2009 (China Knowledge) - Gree Electric Appliances Inc of Zhuhai<000651>, the world's biggest home air-conditioner manufacturer, said it has received approval from China's Ministry of Science and Technology (MOST) to build a national engineering center to research energy-saving refrigeration equipment, the Shanghai Securities News reported.

According to the company's announcement, the research center will be built within three years.

The company will spend RMB 149.94 million to set up the research center, and will receive RMB 3 million in funding from MOST and RMB 10 million in funding from related government offices.

The national-level research center will benefit from preferential policies and will conduct critical technological innovation and other R&D activities that will have a positive impact on the company's business performance.

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