The Minister for Jobs, Enterprise and Innovation has announced a flurry of deals on the first day of his visit to China and Korea, at the head of a trade mission involving 41 Irish firms.
ChinaHR, the largest Irish-owned employer in China, owned by Denis O'Brien and Leslie Buckley, yesterday announced a €30 million investment programme which will include the further development of the company's technology and the recruitment of senior Chinese talent.
"Today's announcement by ChinaHR that it is investing €30 million in its operations in China is very welcome news," Richard Bruton said. "Increased exports by companies like ChinaHR in China ultimately supports increased employment in Ireland." It brings China HR's total investment to date in China to approximately €100 million and the business has enjoyed rapid growth since it entered the market in 2006.
China HR chairman Mr Buckley said the investment made sense as the Chinese economy – the world’s second largest – was still growing strong at about 7 per cent per annum.
“Our latest investment will continue to strengthen Ireland’s business relationship with China as well as contributing towards the further development of a leading edge online recruitment offering for China.”
The other key element of the investment is in the recruitment of senior Chinese executive talent. ChinaHR.com employs more than 2,600 employees and has 179 branches across China, including in Shanghai, Guangzhou, Chengdu, Shenzhen, Suzhou, Hangzhou, Nanjing, Wuhan, Changsha, Xi’an, Tianjin, Dalian and Qingdao.
In other deals announced yesterday, Cylon Controls announced a €5.89 million (50 million yuan) joint venture with Sinosteel High-tech Investment to locally manufacture Cylon's Building Management Systems, which are widely used in public building and commercial properties.
Cylon officially entered the Chinese market in 2010. One of its most spectacular achievements is Beijing Park View Green, a stunning landmark building which was the first commercial complex to win LEED platinum award in China.
Separately, OpenJaw Technologies, online technology partner to some of the world's biggest travel brands, officially announced plans to develop its operation into Asia Pacific, from a new base in Hong Kong.
Datalex, a leading provider of ecommerce and retail solutions to the travel industry, launched its Beijing office during the visit. In 2011, China's flagship carrier Air China chose the Datalex Travel Distribution Platform for its domestic and international shopping and reservations online and in call centres.
Summit Bridge Capital, manager of the China Ireland Technology Growth Fund, launched the Sino-Irish Technology Executive Society (Sites), a tech-focused organisation to encourage cross-border commercial links between Ireland and China.
Sites will bring together leading technology executives from Ireland and China for a number of forums each year to promote cross-border trade.
Summit Bridge Capital is a €73.5 million growth technology fund launched in January this year, co-managed by Dublin-based Atlantic Bridge Capital and Beijing-based WestSummit Capital.
