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Belt and Road Receives Local Recognition
Post Time:19/06/2017 Browse Number:

  The recent report of the Congress of the Communist Party indicated to continue developing the overall level of opening up and reform, and to work on a new round of Belt and Road initiatives in Zhejiang Province. It also encouraged putting all efforts towards creating a strategic hub of the Belt and Road and accelerating participation in the international competition and cooperation process. The Belt and Road initiative acts as an economic bridgehead, and has become one of the most discussed topics among Jinhua Party representatives of the Provincial Party Congress.

  “Listening to the report of the Provincial Party Congress was very inspiring. At the moment, our enterprise is going through the process of applying internal automation and upgrading information and other technologies to promote transformative development, in order to further participate in building the Belt and Road,” said Ge Bingzao, Provincial Party representative and a president of Jinfei Holding Group Co., Ltd. The company has been doing business with the main countries of the Belt and Road since 2010, so he has been paying close attention on how to integrate the company into the national Belt and Road strategy.

  According to him, trade between Jinhua’s enterprises and countries along the Belt and Road route is diversifying.

  “We export equipment and technologies. Through a shareholding method of using technologies with local enterprises and joint ventures, the manufactured products are sold locally, so it doesn’t create a conflict with our original product market. Relying on the advantages of local cooperation, the follow-up development is even more effective,” said Ge Bingzao in his introduction. He also told how in many Belt and Road countries, the car ownership rate is still low, so the market potential is unlimited. The technical equipment export mode of economic cooperation helps ensure sustainable development. At present, Jinfei is using this type of cooperation to set up factories in Pakistan, Egypt, India, and other countries. In the future, it is planning to establish cooperation with enterprises in Iran, Saudi Arabia, and more.

  Wang Shengzhi, a Provincial Party representative and Party secretary of Sanding Holding Group, said that the nylon products produced by their company are sold in Europe, the Middle East, and other regions. From her own experience, she knows well the importance of the Belt and Road in the market.

  “When Yiwu CRE opened, the majority of the shipments were Yiwu’s small commodity goods. Goods were delivered to various destinations at low cost, so they could be sold at cheaper prices. Such increase in foreign exchange led to the prosperity of Yiwu’s Market,” said Wang Shengzhi. In addition to low transportation costs, the government also provides many policies and facilities for the enterprises’ convenient participation in opening up to the outside world. For example, Yiwu Port has convenient customs, inspection, and quarantine supervision in its customs clearance functions. It also provides large storage areas, modern offices, and the service of one-stop customs clearance.

  “In the past, when we were exporting or importing goods, we had to go through Ningbo or Shanghai customs clearance. If there were some documents lacking, we’d have to go back and forth. It was time-consuming. Now, we can go through all the procedures here in Yiwu. It increases the company’s time and work efficiency, and also leaves a good impression on foreign customers,” said Wang Shengzhi. With the construction of the Belt and Road Initiative, many Yiwu enterprises can experience the benefits of the project and have a better picture of the future of the opening up and reforming. (By Ni Hanxia from Jinhua Daily, translated by Nataliia Litvinova, edited by Kendra Fiddler)

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