China has embraced the world, Chinese President Xi Jinping said in his keynote speech at the opening ceremony of the China International Import Expo (CIIE). But economic globalization faces headwinds, and multilateralism and free trade are under threat.
Lithuanian Railways CEO Mantas Bartuska considered globalization a fantastic factor in terms of making people share experience and products as well as giving huge potentials to transportation.
As Lithuania exports various food products, such as beer, meat and milk, to China, Bartuska said railway could provide faster transportation than marine, “which is good for food especially.”
The company intends to enter the top five largest railway carriers in Europe. To reach this goal, Lithuanian Railways plans to increase its freight traffic from 53 to 70 million tonnes per year. And the CEO is positive about company's growth related to railway line connecting China and Europe.
“Next year is promising, and we see that it might grow even more by two, three maybe five times. We are very positive. This shows the huge potential,” Bartuska said.
CGTN Photo
And automaker CNH Industrial seeks an expansion of its imports to China and to bring a positive impact into the country. At the CIIE, the automaker introduced its gas-powered light commercial vehicle, which was successful in Europe and could help reduce emissions, to China for the first time.
“We have lots of technology importing to China… And we bring in latest technology and productivity that we are experiencing in other countries. We think we can give our contribution－a positive one,” Pampalone said.
CNH Industrial's joint-venture manufacturing plant in Chongqing Municipality, China, was recognized for its manufacturing excellence with a Bronze Level certification in World Class Manufacturing, a collection of concepts that set standard for production and manufacturing for another organization to follow. As China announced a freeze on joint venture restrictions in the auto sector, its Chief Operating Officer (COO) considered it a different option from its successful joint venture.