SHENZHEN -- Siemens Healthineers, a German health technology company, has begun construction on a new manufacturing and research facility in South China's technology hub Shenzhen.

With a total investment exceeding 1 billion yuan (about $139.12 million), the new facility will cover 63,000 square meters and is expected to be operational by the end of 2027. It will focus on the research and production of angiography equipment and core components for magnetic resonance imaging (MRI) systems.

The new facility will complement the existing healthcare base in Shenzhen, established in 2002, and further enhance its overall capacity. The Shenzhen base is one of Siemens Healthineers' largest research and production sites outside of Germany.

China has always been a source of growth and innovation for Siemens Healthineers, said Elisabeth Staudinger, a member of the Siemens Healthineers managing board. The company is excited to further expand its footprint in China with the establishment of the new production and R&D base, she added.