KONE Launches Major Investment Initiative in Southern China

KONE signed an agreement with the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen, China, in late August, formalizing plans to set up its southern China headquarters (HQ) in Qianhai, as well as an R&D center and a logistics hub, the South China Morning Post is among outlets to report. The HQ is set to start operations early in 2026, and the logistics hub had been expected to be operational in October 2025. KONE Executive Vice President (EVP) Joe Bao observed that China is KONE’s largest single market, with 1.6 million elevators and escalators delivered since starting operations on the mainland in 1996. Through the partnership with the Cooperation Zone, KONE aims to “optimize resource allocation, accelerate industrial transformation and support urban renewal across the Greater Bay Area,” Bao said.