Newsight Imaging Opens a Wholly Foreign-Owned Enterprise (WOFE) Office in China
The company is hiring local engineers for its new offices at the China Guigu Science and Technology Park in Jiashan County, Zhejiang Province
Jiashan, China – Newsight Imaging, a developer of advanced CMOS image sensors for laser LiDAR (Light Detection and Ranging) and spectral analysis, today announced the opening of a WOFE, “Wholly Foreign Owned Enterprise,” in the People’s Republic of China.
Registered under the local name of “Jiaxing New Vision Tech,” the WOFE offices are located in the China Guigu Science and Technology Park in Jiashan County, Zhejiang Province, a half‑hour high‑speed train ride from Shanghai. The China Guigu Science Park is one of Jiashan County’s four economic and industrial bases.
Newsight Imaging has started recruiting talented engineers to provide technical and custom‑tailored support for its customers in China; the WOFE will also serve as the main hub for all the company’s operations in China.
The office was opened as part of Newsight’s strategy to further expand its local activities in the fast-growing Chinese market. The company wishes to provide close support to local customers to assist in the integration of Newsight’s innovative chips in different product applications.
In a separate development, Newsight appointed DXY Technology as a non-exclusive distributor in China.
“Superb support of our customers is one of the pivotal factors in building a solid and successful business in China,” said Eli Assoolin, CEO and co-founder of Newsight Imaging. “As we view our customers as our partners, we wish to respond quickly to local market needs. Having an on-the-ground presence of a qualified team of Chinese-speaking engineers with extensive training in Newsight products, who can study local customers’ needs, will enable us to grow further and build the best possible brand image in China.”
“Newsight Imaging has set up a WOFE in China to be closer to its PRC customers,” Dr. Li Likai, Newsight Imaging’s board member and WOFE chairman, said.” “Chinese industry has the greatest demand for Newsight’s products. Newsight will help China nurture global leaders in many industries in the same way Israeli innovation has already achieved for many other worldwide industrial leaders during the past 40 years”.
Ms. Liping Yang, executive deputy director of Guigu Park, commented: “Israeli company Newsight Imaging possesses advanced technology and has a huge market in China. We are very pleased that it has set up its Chinese office in our China Guigu Science and Technology Park in Jiashan and we will provide all the conveniences necessary to assist in its success.”