(MENAFN) Australian company Cochlear Ltd. held a ceremony to lay the foundation stone for its first manufacturing plant in China on Thursday.
With production expected to begin within the next three-and-a-half years, the manufacturing facility in Chengdu, capital of southwest China's Sichuan Province, will raise Cochlear's global cochlear implant production by at least 50 percent.
According to the company, the hearing devices manufactured in Chengdu will chiefly serve the Chinese market, and are expected to lower the overall price of these products in China.
The world's top cochlear implant producer will also work together with the Sichuan Innovation and Entrepreneurship Promotion Association to promote a Sino-Australia International Hearing Hub in Chengdu, which will conduct research on cochlear implant technology and develop hearing-loss solutions tailored for the Chinese market.
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