Zhejiang companies make new progress in building the Belt and Road Initiative

2019-06-09 21:59:53 source: ZJOL; Translation: In Zhejiang


On the afternoon of June 8, the conference on building the Belt and Road Initiative of Zhejiang Province was held in Ningbo, with 20 projects signed and a total investment of 14.3 billion US dollars.


Grasp New Opportunities


Kasen International Holdings Limited will invest in the construction of an international industrial zone in Indonesia, with a total investment of 980 million US dollars for an area of 1, 600 hectares. The chairman of the company, Zhu Zhangjin, wants to build a platform in Indonesia for Zhejiang enterprises to go abroad. "Specifically, we are going to build standard factories, freight terminals, power plants, sewage treatment projects and other projects in the countries and regions along the Belt and Road". In Zhu Zhangjin's view, some countries such as Southeast Asia countries are about to usher in a new round of development, and their demand for infrastructures such as transportation and electricity will also soar.

Fulfill Social Responsibilities

Since 2013, Tsingshan Holding Group has been building roads, schools, housing, etc. apart from industrial parks in local areas. Especially in the past two years, when Indonesia suffered from floods, the company allocated a large number of human and material resources to participate in disaster relief. "What Tsingshan Holding Group has done show that Zhejiang companies are real builders of the Belt and Road, rather than resource predators". Sutanto, head of the Tsingshan project in Indonesia, told reporters that the Tsingshan project had changed the lives of local people, and the most direct benefit was that it created 30,000 jobs.

Respecting local customs and integrating into local society have become the consensus of Zhejiang companies investing in countries and regions along the Belt and Road.

Undertake diversified investment

Hangzhou PingPong Smart Technology Co., Ltd. will invest in the construction of overseas electronic payments and digital banking projects in Luxembourg.

Luo Yonglong, a partner of the company, said that the project would serve as a platform for cooperation in expanding cross-border e-commerce exports from China to the EU and expanding businesses within the EU. The project can provide more high-quality and cheaper financial services for 250,000 cross-border e-commerce enterprises currently served by the company, reducing the general rate from 3% - 5% of transactions to less than 1%.

(Executive Editor: Lubin WANG)

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