The Official Website of the People’s Government of Hunan Province Mobile 中文 Francais 한국어 日本語

15 July 2015

Home>News>Local News>Business

Hunan SOEs Participate in “Belt and Road” Initiative

2018-01-23 Download Print Comment

It was learnt from the Hunan Provincial State-owned Assets Supervision and Administration Commission (HSASAC) on January 21 that, the Hunan provincial state-owned enterprises (SOEs) have enhanced cooperation and opening-up in 2017, via fully utilizing the regional advantages in the “One Belt and One Zone” (the junction zone of the Yangtze River Open Economic Belt and the Coastal Open Economic Belt and the transitional zone from the eastern coastal areas to the central and western areas) strategy. Hunan Construction Engineering Group, Hunan Gold Group, and Zoomlion have reached more than 70 cooperative intentions or agreements with those countries along the Belt and Road.

In 2017, HSASAC made great efforts to encourage advanced industries and key Hunan SOEs to expand foreign investment, carry out cross-border operation and mergers and acquisitions, and make fortunes at global market in such fields as equipment manufacturing, rail transit, and electronic information. For instance, Zoomlion has built 9 production bases, 20 trading platforms, and 10 spare parts centers in the countries along the “Belt and Road” route. Its products have been sold to more than 31 countries along the route. Hunan Gold Group cooperated in gold (a non-ferrous metal) resources exploration with South Africa, Brazil, Chile and other countries. Its first overseas mine, the Rio Blanco project in Ecuador, was officially launched. Hunan Xintiandi Group invested in Zimbabwe civilian explosives project, and its products and technologies are exported to Asian and African countries.

Hunan Construction and Engineering Group has played an active role in infrastructure construction in Belt and Road countries, such as the China (Hunan) - Poland Industrial Cooperation Park investment and construction. In recent years, it has undertaken overseas projects worth 1.5 billion USD in more than 30 countries and regions. The group, together with financial institutions and Hunan provincial SOEs, and private enterprises, founded the Hunan Province “Belt and Road” Industrial Promotion Fund, with a total value of 20 billion CNY. The fund aims to provide financial support for Hunan enterprises to “go global”. In 2017, Hunan Communication & Water Conservancy Group Ltd. has 23 overseas projects under construction, with a contracted value of 6.2 billion CNY.

Please refer to when using the article.

Translator: Yu Jiangjiang

Chinese source: