Chinese firms expand footprint overseas

Cargo ships carrying steel products are heading toward African ports from Zhangjiagang Port in China's Jiangsu province, and canned beans from Yancheng, Jiangsu, are reaching the dining tables of Middle Eastern families, as Chinese enterprises continue to expand their businesses overseas, according to Nanjing Customs.

Chinese companies nationwide, not just enterprises in Jiangsu, are revving up their efforts to expand their footprint overseas and strengthen international cooperation.

In the two weeks following the Spring Festival holiday, the China Council for the Promotion of International Trade said it arranged eight groups of Chinese entrepreneurs to travel abroad for economic and trade activities.

Representatives from more than 200 companies visited Kazakhstan, Germany, South Africa, Egypt, Ethiopia, Qatar, Saudi Arabia and the United Arab Emirates, the Beijing-based council said on Friday.

"During the visits, the willingness of foreign companies to cooperate with China exceeded our expectations, and 33 cooperation intent agreements were reached, covering sectors such as finance, energy, infrastructure, automobile manufacturing and the digital economy," said Yang Fan, a spokeswoman for the CCPIT.

"This has fully demonstrated the strong desire and broad prospects for pragmatic cooperation between Chinese and foreign business communities," she said.

The more difficult the times, the more determined the global business community is to work together and achieve win-win cooperation, Yang said, noting that this is the greatest certainty that balances uncertain factors in global economic growth.

In mid-February, a delegation of Chinese entrepreneurs visited Kazakhstan and achieved better-than-expected results. During the two-day visit, representatives of enterprises from China and Kazakhstan signed eight cooperation agreements, including an energy strategic cooperation agreement and an agricultural products import and export agreement.

The visit was aimed at deepening trade, investment, and industrial and supply chain cooperation between China and Kazakhstan and further consolidating the permanent comprehensive strategic partnership between the two countries, the CCPIT said.

Chinese entrepreneurs were also welcomed in other countries, and Chinese and foreign business communities engaged in enthusiastic talks.

In South Africa, the country's Deputy President Paul Mashatile met with a Chinese business delegation in person, while in Germany, the management teams of major multinational corporations, such as Mercedes-Benz, BMW and Bosch, held in-depth talks with Chinese entrepreneurs, Yang said.

In the UAE, officials from government departments and major business associations actively engaged in dialogues with Chinese entrepreneurs, she added.

In the past few years, Chinese enterprises have shown strong willingness to promote industrial and supply chain cooperation with their foreign counterparts.

Last year, the CCPIT organized a total of 2,249 business groups to visit 102 countries and regions, which means on average six Chinese delegations went abroad for business talks each day.

Jiangsu Kanghui New Material Technology, an affiliate of Hengli Group, which focuses on the full production chain in oil refining, petrochemicals, polyester new materials and textiles, is a leading company in producing wide polyester films. A variety of polyester film products have rolled off its production line for exports.

In particular, the company has been actively expanding its business in emerging markets such as the Association of Southeast Asian Nations, according to Nanjing Customs.

"Last year, our products exported to ASEAN countries enjoyed preferential tariffs and received an exemption of 8.47 million yuan ($1.16 million), thanks to the China-ASEAN free trade agreement," said Zhang Liping, director of import and export at Jiangsu Kanghui New Material Technology.

"With preferential tariffs, our products have become more competitive in overseas markets. In 2024, the company's export value in the ASEAN market reached $24 million," Zhang added.

zhuwenqian@chinadaily.com.cn