Finnish elevator and escalator manufacturer Kone has announced it will establish its southern China headquarters in Shenzhen to strengthen its presence in the Greater Bay Area. The new base in Qianhai will include a research and development centre and a logistics hub, with operations set to begin in early 2026.
Kone signed an agreement on Friday with the Qianhai Shenzhen–Hong Kong Modern Service Industry Cooperation Zone to launch the investment. The logistics hub, co-developed with Shenzhen Metro and Chinese property developer China Vanke, is expected to be operational by October 2025 and will serve the entire Greater Bay Area, including Hong Kong and Macau.
China is Kone’s largest market, with more than 1.6 million lifts and escalators delivered since entering the country in 1996. The company’s equipment is installed in over 40 high-rise buildings in Shenzhen, such as the Ping An Finance Center, as well as in Hong Kong’s Pacific Place complex and the MTR’s South Island line.
Joe Bao, executive vice-president of Kone Corporation and president of Kone Greater China, said the investment would enhance cross-border collaboration, expand local sourcing and support smart building development. “We’re really focused on the Greater Bay Area as we look at growth, future development and opportunity,” he said.
