Han’s Laser Technology, a China-based manufacturer and supplier of industrial laser equipment, plans to invest $60m to set up its new subsidiary in US. The new subsidiary will research, develop, produce, sell and consult on support devices for laser beam machining.

Han’s Laser was formed in 1996 and has since gone on to expand all around the world. The company went public on the Shenzhen Stock Exchange in 2004, and its market value is currently more than $6bn. It already has operations in the US, in San Jose, and its other global facilities are found in Australia, Brazil, Canada, Egypt, Germany, Hong Kong, India, Indonesia, Malaysia, Mexico, the Philippines, Russia, South Africa, South Korea, Taiwan, Thailand, Turkey and Vietnam.

The move comes at a time of increasing tension between the US and China, which has been characterised by inflammatory rhetoric on both sides, as well as tariffs and trade wars. On top of this, geopolitical issues, rising costs and supply chain concerns – particularly linked to the country’s lasting zero-Covid policy – have seen China’s star dim in the eyes of many foreign investors. This saw the likes of Malaysia and Vietnam draw in high levels of foreign investment in 2022.