Breakup of Asia's exports of high-tech products
out global competition. “We tailor-make products for different overseas markets depending on the demand and factors like population density,” Lyu said.
Fiberhome said its 2014 export revenue exceeded 2.4 billion yuan ($305 million), a 90 percent increase year-onyear.
“China’s Belt and Road Initiative has been fueling the sales,” said Lyu. The company said it will focus on growth in neighboring markets and attract research talents in the region. The Belt and Road strategy, the brainchild of the central government, encourages exports of high-tech products.
With growth in the Chinese market stabilizing, some heavy equipment manufacturers struck out on their own, seeking to enter Asian markets yet to openup.
The Liuzhou-based LiuGong Machinery Co, a major player in the heavy machinery market, said its products such as cranes and excavators have been exportedtoSoutheastAsiaadecade ago and are largely used in governmentprojectsinthefields of transportation, hydraulic engineeringandinfrastructure.
“Countries in Southeast Asia such as Thailand and Cambodia are our target market and we have been in Thailand for more than a decade, because
The first high-speed train to be exported to Europe rolled off the production line at Zhuzhou Electric Locomotive Co in July 2015.
An excavator made by Liuzhou-based LiuGong Machinery Co, in South China’s Guangxi Zhuang autonomous region, performs calligraphy art.