Business Inroads: Expanding overseas through the BRI
The Belt and Road Initiative is about improving collaboration and connectivity within the region. Chinese companies' running abroad via BRI is expanding their operations for better services and integration.
Chinese domestic automaker Great Wall Motor is building up a new factory in Tulskaya, Russia. Wei Jianjun, the president of the company cited the BRI as helping the company reach the ASEAN market which provided local production for better and faster service.
As Chinese President Xi stressed the importance of green development and innovation in BRI projects, more capital has been poured into supporting facilities. China National Building Material Group helped build up industrial parks and tech labs. Meanwhile, China Unicom invested 300 million U.S. dollars in infrastructure in the Belt and Road countries.
"Our customer base more than doubled, as we were able to provide them with cheaper but better telecom services. We also offered cloud services to business clients. We are still expanding in those countries," said Fan Yunjun, vice president of China Unicom.
Consumption goods are not to be outdone. Zhang Jianqiu, CEO of Yili said the company built the world's largest integrated dairy production base in New Zealand in 2013, which added local jobs and other facilities. Conaprole as the Latin America's largest dairy exporter is looking to increase exports to China through BRI.
"Chinese dairy market has been growing very fast and we will keep investing and provide Chinese customers with more diverse products," said Alejandro Perez, vice president of Conaprole.