Guangdong endeavors to help enterprises go global since inception of BRI

Since the proposal of the Belt and Road Initiative (BRI), south China’s Guangdong province has
been devoted to developing itself into a strategic hub, economic and trade cooperation center, and
important engine of the BRI, and leveraging its advantage of being close to countries along the
routes of the BRI in terms of geographical location and people-to-people relations to help local
enterprises and brands go global.

The province has seen a large number of projects, which involve small investment, yield quick
results, and benefit people’s livelihood, take root in countries along the routes of the BRI.

Since 2018, it has invested in nearly 3,000 projects overseas, among which over 94 percent come
from private enterprises and more than 80 percent have an investment volume of less than $5

By promoting the establishment of overseas industrial parks and economic and trade cooperation
zones, Guangdong has enabled enterprises to support each other in expanding overseas operations.

The province’s first batch of seven provincial-level overseas economic and trade cooperation
zones have attracted a total of 147 companies and a cumulative investment of about $1.74 billion,
and generated over $3.83 billion of output value. They have driven the import and export of about
$1.4 billion worth of goods, and brought $72.55 million in tax revenue to host countries.

The China-Vietnam (Shenzhen-Haiphong) Economic and Trade Cooperation Zone in Vietnam has
housed 28 high-tech enterprises, including Wolong Electric Group Co., Ltd.,
Zhejiang Sanhua Intelligent Controls Co., Ltd., and Zhongshan Broad-Ocean Motor Co., Ltd. The
cooperation zone is expected to attract 30 to 40 companies and $1 billion of investment and create
20,000 to 30,000 jobs for local people in the first phase of the project by 2022.

In May, Guangdong province published a document on its focus of work in participating in the
BRI construction in 2021, aiming to promote the in-depth cooperation with countries and regions
along the routes of the BRI.

The document includes specific arrangements covering such aspects as deepening policy
communication, optimizing integrated transportation system, boosting international industrial
capacity cooperation, enhancing the capability to provide financing support and financial services,
facilitating people-to-people connectivity in various fields, and improving service guarantee

Meanwhile, seizing the opportunity of the construction of the Guangdong-Hong Kong-Macao
Greater Bay Area, the province will join hands with China’s special administrative regions of
Hong Kong and Macao to promote overseas operations of local enterprises and strive for tangible
and solid outcomes of the BRI construction, powering up enterprises in exploring overseas
Recently, a China-Europe freight train carrying a batch of liquid crystal display panels and
electronic components required for the production in the factory of Chinese multinational
electronics company TCL Technology in Poland left Guangzhou, capital of Guangdong province,
for Malaszewicze in Poland. It is expected to arrive in its destination 15 days after its departure.
With the new China-Europe freight train route linking Guangzhou and Malaszewicze launched in
April this year, the factory of the Guangdong-based company in Poland has gained another
convenient transportation line, said an executive of the factory.

Taking advantage of the BRI and China-Europe freight train services, TCL Technology has made
the factory in Poland the central link of its European industrial chain and managed to cover all
regions on the European continent with its smart terminal products, services and solutions,
according to the executive.

Guangdong Vanward New Electric Co., Ltd., a leading Chinese gas water heater manufacturer
headquartered in Foshan city, Guangdong province, has quickened its pace to promote its self-
owned brands in overseas markets.

The company opened its first overseas experience store in the central business district in
Azerbaijan in 2017 and its first experience store in Southeast Asia in Bangkok, Thailand, one year
later. In 2019, the company set up its Russian subsidiary.

In recent years, the company’s export performance has improved continuously. Its gas water
heaters and gas stoves have outperformed similar products in the industry in terms of export
volume for many years and have been sold to nearly 90 countries around the world.

Gree Electric Appliances Inc., China’s leading home appliances manufacturer based in Zhuhai city
of Guangdong province, has realized localized production in Lahore, Pakistan. With its annual
output of air conditioners exceeding 300,000, Gree’s production base in Lahore once increased the
company’s market share in Pakistan to more than 30 percent, significantly improving the
awareness and reputation of the brand.

Well-known Chinese footwear maker Huajian Group headquartered in Dongguan, Guangdong
province, has built a production base in Ethiopia. Within merely three month, the production base
was completed and put into operation.

The production base has greatly increased the export volume of local leather products and
effectively promoted the development of the local economy.

Related Posts

Leave a Comment

This News Site uses cookies to improve reading experience. We assume this is OK but if not, please do opt-out. Accept Read More