Province reaches out to BRI countries

The Fujian government is providing more support to businesses which are expanding in countries and regions involved in Belt and Road Initiative, or BRI, to encourage more of them to seek growth opportunities in overseas markets.

By joining forces with government departments in BRI countries, overseas Chinese chambers of commerce and the foreign offices of Chinese business organizations, the Fujian government aims to solve problems for businesses and help them speed up expansion into international markets.

Fujian is also striving to enhance its comprehensive service capability to support its businesses expand overseas which includes collecting information about investment destinations and releasing it through official channels. By doing this, businesses can evaluate potential risks and benefits and make more informed decisions.

With support from the Fujian government, Chinese companies are reporting outstanding achievement in expansion overseas in the last few years, officials said.

China Wu Yi, a State-owned property developer in Fujian, has opened offices in more than 10 countries involved in the BRI. It also has road, bridge and property construction projects in regions such as Southeast Asia, the Middle East and Africa with a total of investment more than $1 billion, according to the company.

The company has established a good reputation in Africa for building more than 1,200 kilometers of high-grade highways, as well as airports, hospitals and primary schools.

Qiu Liangxin, chairman of China Wu Yi, said that the BRI has provided tremendous opportunities for the company.

"We are actively expanding our network in the overseas market and have built 12 overseas operations facilities," Qiu said.

Apart from China Wu Yi, businesses in industries such as fishing and mining are also seeing good development potential.

Hong Dong Fishery, a leading Fuzhou-based fishing business established in 1999, has built production facilities in Mauritania to develop a range of aquatic products across the whole industrial chain, from processing to cold storage and delivery. Hong Dong is keen to promote its operation model in Mauritania to the rest of the world, according to Fujian authority.

Zijin Mining, a key player in China's mining industry, has investment projects in nine countries including South Africa, Australia and Papua New Guinea.

The Fujian government is also promoting the construction of overseas economic cooperation zones and inviting qualified companies to cooperate and those who register their interest in overseas markets will be encouraged to settle in the zones.

As of the end of 2017, Fujian's six overseas industrial parks have attracted 19 businesses.

Statistics from the Department of Commerce of Fujian province show that Chinese companies agreed to invest $6.04 billion in countries and regions taking part in the BRI between 2014 and 2017. A total of 222 investment projects have been launched during the same period.

(China Daily 09/08/2018 page6)