Industrial, cultural investment boosts ties

Shanghai-based CEFC China considers the Czech Republic to be one of the most important investment destinations along the Belt and Road routes.

It established regional headquarters in the country to promote the company's investment and cooperation plans.

CEFC China has made investments in the country's industries including finance, aviation, tourism, special materials and special-purpose aircraft.

Those industrial investments will support China's Made in China 2025 industrial upgrading plan and supply-side reform, according to the company.

CEFC China acquired ZDAS, one of the country's special-purpose steel-makers, in 2016, to support the development of China's steel manufacturing industry.

Experts have pointed out that the Chinese steel industry is experiencing an oversupply problem. But production of special-purpose steel, which normally has a high profit margin, cannot meet demand.

With a development history of 50 years, ZDAS is a first-class iron and metallurgy engineering company in Europe.

Located in the heart of Europe, the Czech Republic plays a crucial role as the bridge between China and European markets. It has strong potential to become a major transportation hub in Europe.

CEFC China acquired Travel Service Airlines, the second-largest air service operator in the Czech Republic, to support the development of the country as an aviation hub. It will help the country to launch non-stop flight routes between China and Prague.

CEFC China also invested in industries local people love, such as a soccer team and breweries, to promote mutual understanding and trust between Chinese and Czech people.

The Czech Republic's most historical football team, SK Slavia Praha, once at the brink of bankruptcy, was acquired by CEFC China in 2015. The acquisition successfully promoted CEFC China's culture and mission to local people and won their recognition.

The company also acquired Lobkowicz, one of the largest brewery companies in the Czech Republic, in 2015. The cooperation will allow the brewery business to expand into the Asian market and support its long-term development.

Through investments and local involvement, CEFC China has established strong brand awareness and a good reputation in the Czech market in recent years.

zhuanti@chinadaily.com.cn

(China Daily 05/14/2017 page36)