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Trade volume between China and European nations continues to thrive under the Belt and Road initiative. With more Chinese investors establishing companies in EU countries, localization has become key to Chinese firms' success there. CGTN's Zhao Yunfei shows us how one company there is helping shape a diverse and inclusive working environment.
COSCO SHIPPING's Virgo vessel docks in the port of Hamburg, Germany. And so begins the process. Hamburg is a transition port. Containers discharged from here will get shipped to inter-ports in Europe by smaller vessels. And the goods loaded onto Virgo will go to the Far East. Thorsten Jagel, COSCO's Europe representative, monitors this leg of operations.
THORSTEN JAGEL EUROPEAN MARINE OPERATING CENTER, COSCO SHIPPING LINES EUROPE "Cargo always finds its way. The less the trade may get because of some taxes with the U.S. the more the trade will get somewhere else of course. COSCO will surely get their share. And I guess the trade between China and Europe will still increase."
Jagel, now in his eighth year with COSCO, says the Chinese company offers him job security and stability.
THORSTEN JAGEL EUROPEAN MARINE OPERATING CENTER, COSCO SHIPPING LINES EUROPE "I think working for COSCO gives us a good future. It is safety for our employment."
COSCO has subsidiaries in 10 European countries. Only about 100 of COSCO's 3800 Europe-based employees are from China, making them a major player in local employment. But managing a diverse team is not an easy task. Jagel's supervisor Song Shuqing says respecting his colleague's culture is key.
SONG SHUQING, GENERAL MANAGER EUROPEAN MARINE OPERATING CENTER, COSCO SHIPPING LINES EUROPE "Localizing Chinese companies overseas relies on the support of local employees. And it takes time to merge our cultures together. Our staff members highly recognize company credibility."
In 2017, China was the EU's largest partner for imports of goods, and the second largest for exports. Volume is expected to grow with Europe relying more on exports to China, and with Chinese investors committing services to regional customers.
LIN JI, PRESIDENT COSCO SHIPPING EUROPE "We are following the path from globalization to regionalization. We first arrange non-stop lines from China to the Mediterranean. Then we focus on markets within Europe, and provide our services to smaller ports based on our main transportation routes."
ZHAO YUNFEI HAMBURG, GERMANY "74 percent of goods entering or leaving Europe go by sea. The continent's maritime ports are gateways for European countries doing business with China. Chinese investments have taken advantage of the port facilities here and pursued a deeper integration into the world economy. The Belt and Road Initiative features two-way benefits as it is the engine of growth and wealth. Zhao Yunfei, CGTN, Hamburg, Germany."