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Belt and Road Initiative supports firm's sales

By Zhuan Ti | China Daily | Updated: 2016-09-05 08:46

Exports driven in part by the Belt and Road Initiative have helped support the sales of China National Heavy Duty Truck Group, according to an official from the company that is also known as Sinotruk.

Figures from China Automotive Technology and Research Center show that Chinese heavy truck companies exported 31,717 vehicles in the first half of 2016, a 31.4 percent year-on-year decrease.

However, Sinotruk managed to beat the industry average, reporting only a 14.8 percent decrease in exports year-on-year.

Lan Junjie, general manager of the company's international department, said that the key factors supporting export performance were a well-established network in traditional markets such as Africa and Southeast Asia, as well as the launch of new projects in other Belt and Road countries such as Pakistan.

In the first six months of 2016, a total of 7,030 heavy trucks from Sinotruk were exported to countries along the Belt and Road routes, contributing 47.88 percent to its overall exports, compared with 42.2 percent in the same period last year.

Demand in some Central Asian countries more than doubled between January and June. For instance, sales in Kazakhstan increased 243 percent year-on-year.

Sales in Pakistan reached 517 units in the first-half, increasing nearly 600 percent year-on-year. Lan revealed that the average annual demand for heavy trucks in Pakistan is around 1,000 units.

"As infrastructure construction in the Belt and Road countries gets a boost, Sinotruk will see more opportunities," Lan said, adding that as the largest heavy duty truck manufacturer in China by revenue, the company has long been committed to seeking business opportunities in Belt and Road countries.

"Sinotruk is not only keen to seize business opportunities along the Belt and Road routes, but also strives to be a pioneer," said Ma Chunji, chairman of Sinotruk. "We will support the Belt and Road Initiative by bringing our products to these regions and strengthening production capacity cooperation."

By the end of August, Sinotruk had a sales network that covered 33 of the 65 Belt and Road countries, including Pakistan, Russia and Malaysia.

Since 2011, Sinotruk has exported more than 8,000 heavy trucks to Kazakhstan, contributing to urban construction and industrial development there.

Belt and Road Initiative supports firm's sales

(China Daily 09/05/2016 page44)

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