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		</div><p>Midea, one of the world&#8217;s top consumer appliances manufacturers, became the first company from the Chinese household appliances industry to enter the Fortune Global 500 list, when the updated ranking of the world&#8217;s largest corporations was announced on July 20, 2016.</p>
<p>Midea debuted at 481st after a strong 2015 that saw the company achieve USD22.17 billion revenue, and total profit of USD2.02 billion, representing a 21 percent year-on-year increase.</p>
<p>&#8220;In 2015 the global home appliances industry faced more challenges, and Midea was able to fly upwind by adhering to the strategy of developing cutting-edge products, improving efficiency and emphasizing global operations.&#8221; said Andy Gu, Vice President at Midea Group.</p>
<p>Midea has invested USD3 billion in research and development over the past five years and now operates R&#038;D institutes in China, the United States, Japan, Germany, Italy and Singapore, integrating global resources to drive technological breakthroughs.</p>
<p>This is in addition to an USD 1.04 billion investment in improving automation which has resulted in an average current automation ratio of 17 percent.</p>
<p>So far in 2016, Midea has acquired Toshiba&#8217;s home appliance business, and is in the process of acquiring German industrial robotics group Kuka AG and Italian air-conditioning manufacturer Clivet.</p>
<p>Midea&#8217;s global strategy is to switch from traditional product exportation from China to operating locally in key markets.</p>
<p>Midea&#8217;s global platform now operates more than 200 subsidiaries and 9 strategic business units, and the company runs seven full-scale operations covering R&#038;D, manufacturing and sales in 6 countries including Vietnam, India, Belarus, Egypt, Brazil and Argentina.</p>
<p>Midea products are sold in more than 200 countries and regions worldwide.</p>
<p>The company also landed several high-profile projects in 2015, including winning the bid to install central air-conditioning in the stadiums for sports games in Brazil.</p>
<p>&#8220;Midea is dedicated to helping people rediscover what home means, in a surprisingly friendly way,&#8221; said Brando Brandstaeter, Head of Brand &#038; Communication of Midea International Business.</p>
<p>&#8220;In the future, Midea will become a conglomerate focused on smart home appliances and intelligent manufacturing.&#8221;</p>
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