TradePromotion

Private enterprises set to play a bigger role in BRI promotion

2019-3-20 9:33:36

Private enterprises are looking to play a bigger role in promoting China's Belt and Road Initiative to realize more benefits in foreign and domestic markets, according to industry experts.

Nan Cunhui, chairman of Chint Group, China's leading industrial electrical equipment and new-energy enterprise, said the BRI is bringing "huge" opportunities in foreign markets.

"Currently, more than 10,000 Chinese companies are doing business in Africa. Among them, 90 percent are private ones," said Nan.

These private firms are providing African countries with strong support in infrastructure including roads, railways, airports and ports. Such efforts will play a critical role in improving local employment, tax revenue as well as living conditions, he said.

As a private provider of high and low voltage products, Chint has offered such products and services to 80 percent of the BRI markets including Pakistan, Thailand, Egypt, Malaysia and Russia.

Nan added that countries and regions involved in the BRI are the company's expansion focus this year.

"While we are beefing up our presence in the BRI markets, localization as well as mergers and acquisitions will continue to be our major strategies," he said.

"Most of our staff in these countries are local people and there are indeed many good companies abroad. We can leverage these strategies to better localize in BRI countries and regions."

To date, the Wenzhou, Zhejiang province-based firm has established manufacturing bases, research and development centers and logistics hubs in around 140 countries and regions. It has also built more than 100 photovoltaic power plants overseas.

In the past five years after the BRI was proposed, China has made significant achievements with the countries and regions involved in the initiative.