Heng­tong has over­seas vi­sion

China Daily (Canada) - - BUSINESS - By FANFEIFEI in Bei­jing and CANG WEI in Nan­jing

In this on­go­ing se­ries on the birth and growth of pri­vately owned Chi­nese com­pa­nies that are re­defin­ing in­no­va­tion, China Daily pro­filesHeng­tong Group Co Ltd, a Jiangsu-based com­pany en­gaged in op­ti­cal fiber man­u­fac­tur­ing and elec­tric power and net­work con­struc­tion, which eyes over­seas ex­pan­sion.

Heng­tong Group Co Ltd, a Jiangsu-based com­pany en­gaged in op­ti­cal fiber man­u­fac­tur­ing and elec­tric power and net­work con­struc­tion, aims to es­tab­lish two to three over­seas bases and achieve two to three over­seas ac­qui­si­tions an­nu­ally. This plan is aligned with the coun­try’s Belt and Road Ini­tia­tive.

The com­pany is mak­ing ef­forts to speed up its over­seas mar­ket ac­tiv­ity. It has es­tab­lished seven re­search and de­vel­op­ment cen­ters over­seas, and set up branches for mar­ket­ing and tech­nol­ogy ser­vices in more than 30 coun­tries and re­gions.

Asia with and Africa, along trade routes.

Founded in 1991, Heng­tong has seen its busi­nesses cover­ing not only tele­com and elec­tric power, but also be­ing in­volved in fi­nance, cul­ture, tourism, real es­tate, cap­i­tal in­vest­ment and e-com­merce plat­forms.

It has put for­ward a goal called the “5-5-5” in­ter­na­tion­al­iza­tion tar­get. That means that more than 50 per­cent of its prod­ucts will be sold over­seas, more than 50 per­cent of its cap­i­tal will be from over­seas and more than 50 per­cent of its pro­fes­sional peo­ple will have in­ter­na­tional back­ground, ac­cord­ing to the com­pany.

The op­ti­cal fiber com­mu­ni­ca­tion gi­ant now serves var­i­ous na­tional pro­grams, in­clud­ing, in­tel­li­gent cities and com­mu­ni­ties, ul­tra­high volt­age and in­tel­li­gent power net­works, big data, in­ter­net of things, high-speed trains, aero­space, na­tional de­fense and other high-end fields.

In 2015, its over­seas rev­enue ac­counted for 20 per­cent of the to­tal sales. In the next decade, Heng­tong will grasp the op­por­tu­ni­ties brought about by the B & R Ini­tia­tive and con­tinue to push for­ward its in­ter­nal­iza­tion strat­egy.

“The in­ter­na­tional mar­ket is a touch­stone of an en­ter­prises’ com­pet­i­tive­ness, in which we test our prod­ucts and achievements, as well as the tech­nol­ogy level of an en­ter­prise,” said Gao An­min, the in­ter­na­tional vice-pres­i­dent atHeng­tong Group.

Heng­tong will make com­pre­hen­sive use of tal­ent and tech­nol­ogy in the do­mes­tic and over­seas mar­kets, ex­pand the chan­nels in­side and out­side China and speed up its in­ter­na­tional ex­pan­sion by de­pend­ing on for­eign in­vest­ment and ac­qui­si­tion.

Europe an­cient

Con­tact the writ­ers at fanfeifei@chi­nadaily. and cang­wei@chi­nadaily.com.cn

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