Jiangsu companies play active roles in ‘Belt and Road’ initiative
2018-04-12 17:07:00

In the "Belt and Road" initiative, Jiangsu companies involved in foreign trade have made frequent appearances and good performances in going global and also upgrading their transformation.

On April 18, the Jiangsu Provincial Development and Reform Commission will organize Jiangsu enterprises to visit the Sino-Arabic Industrial Park, a cooperation demonstration area in the United Arab Emirates. Three projects will be signed for the park during the trip.

Building overseas production bases is the most common form of investment by Jiangsu enterprises. JOC International has built three garment production bases in Myanmar and Cambodia. Jiangsu SOHO Holdings Group Co., Ltd. has also established overseas clothing production bases in Myanmar, Cambodia, Vietnam and other countries.

Based on production sites, Jiangsu companies are also actively building overseas industrial parks. JOC International's modern agriculture, industry, trade and industrial park in Tanzania focuses on cotton and plans to establish a complete industrial chain from cotton cultivation to ginning, spinning, weaving and other sectors. Through the multi-industry approach, JOC International aims to gradually expand its business and sell cotton yarn back to China, then export it to Southeast Asia, while cotton fabric and garments will be exported to Europe and the United States.

Jiangsu enterprises will also set step into the financial industry. In Tanzania, Dasheng Bank, founded by Jiangsu-based JOC International Co., Ltd. and other enterprises, became the first overseas commercial bank established by a non-banking financial institution from China. JOCIC has established a financial service platform in Abu Dhabi, and it expects to be licensed in May to provide localized services for all types of companies in the Sino-Arabic Industrial Park.

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Source:jschina.com.cn Editor:Amanda

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