Local businesses succeed in regional opening-up strategy
Amid Hunan province’s implementation of further opening-up strategies, a number of local enterprises have made great strides in expanding in the global market.
On May 27, CRRC Zhuzhou Locomotive announced its high-speed electrical train passed the TSI certification in Macedonia, a certificate of conformity in the European Union giving it access to the EU market.
Based in Zhuzhou in central Hunan, CRRC Zhuzhou Locomotive is a subsidiary of China’s CRRC Corp, the world’s largest supplier of rail transit equipment with the most complete product lines and leading technologies.
Since its first electrical locomotive was exported to Iran in 1997, CRRC Zhuzhou Locomotive has secured overseas orders worth a total of 50 billion yuan ($7.53 billion).
The company has also built production plants in Malaysia, South Africa and Turkey, enabling it to offer a full range of products, services, technologies and management expertise to local partners and clients.
Sany Heavy Industry, a multinational construction machinery company headquartered in Changsha, is one of the global industry’s leading manufacturers.
The company’s 2016 annual report said that its revenue from overseas sales reached 9.29 billion yuan last year, accounting for more than 40 percent of the company’s total revenue. About 70 percent of Sany’s overseas revenue was from countries and regions related to the Belt and Road Initiative.
In the first quarter of this year, the company’s overseas sales increased 30 percent from the same period last year.
Sales from its 10 major overseas markets grew more than 90 percent on average.
The Aier Eye Hospital Group based in Changsha announced on Aug 9 the completion of an acquisition of Spanish eye hospital group Clinica Baviera, the largest listed ophthalmic medical chain company in Europe.
The deal also makes Aier the largest eye hospital group in the world.
Through the acquisition, Cheng Bang, board chairman of Aier, said the company hopes to use global intelligence to raise its technological and service quality levels for its domestic hospitals in the first five years and lay a solid foundation for its global expansion five years later.
In addition to these traditionally leading companies, a number of new growth enterprises in Hunan have also eyed international markets for further development.
Oceanwing E-commerce, for instance, is a new company in the Changsha HighTech Zone founded in 2011.
In five years, it has turned its Anker brand of portable chargers into a popular product in North America.
The products have also been sold to more than 80 countries and regions. Overseas sales accounted for 99 percent of its total in 2016.