Wenling making inroads in BRI markets
Containers full of products are in place at a port in Wenling, Zhejiang province, waiting to be shipped to foreign countries. [Photo/zjol.com.cn]
Aloft on the wings of China's Belt and Road Initiative (BRI), Wenling, a county-level city in Taizhou, Zhejiang province, has in recent years seen robust growth in its foreign trade with BRI partners.
Last year, the value of exports from the city to BRI countries exceeded 10.48 billion yuan ($1.52 billion), a year-on-year increase of 19.78 percent. In the first half of 2018, the number hit 6.21 billion yuan, accounting for 43.5 percent of the total value of Wenling's exports.
There are now over 800 foreign trade companies based in Wenling, which build business connections with 70 BRI countries and regions, according to an official from the city's commerce department. He said local companies have been making every effort to study the needs of overseas markets and expand their businesses worldwide.
Zhejiang LEO Co Ltd in Wenling, a water pump manufacturer and garden machine supplier in China, has successfully cracked the markets of over 40 BRI countries in recent years. It has set up a branch in the Middle East and rented warehouses and offices there to ensure the smooth running of its overseas sales. Additionally, to gain a foothold in more overseas markets, the company has also built business sites in Hungary, Thailand and Indonesia.
WEPON, a Wenling-based high-tech company dedicated to modern TCM, and the research, development, production and sales of chemical raw materials, have recently announced plans to build a China-Africa scientific park for better collaboration between the two regions in producing artificial body parts. "If everything goes well, the construction of the park will begin in three months," said Zheng Duanqing, general manager of WEPON.
In countries where Wenling companies have grabbed a considerable market share, such as Russia, United Arab Emirates, Indonesia and Hungary, the city has built exhibition and sales centers for products from Wenling, in a bid to promote its industries as a whole.
Workers are busy preparing aquatic products at a factory in Wenling, Zhejiang province. Some of these products will be exported to countries and regions involved in the Belt and Road Initiative. [Photo/zjol.com.cn]