More international firms looking to team up with Chinese counterparts

Despite doubts among some detractors, two CEOs of Western multinational corporations said they see substantial growth opportunities in China’s Belt and Road Initiative, and are actively angling for a piece of the trade initiative in an attempt to win more orders.

MNCs, including leading global mining group Rio Tinto and manufacturing and technology conglomerate Honeywell, have said they are willing to team up with Chinese companies to further expand in Belt and Road markets, contributing their technologies and global footprint in infrastructure-related sectors, including power, oil and gas, chemicals, minerals and building materials.

“Chinese authorities are pragmatic about infrastructure and have placed the Belt and Road Initiative at the center of the policy agenda,” said Rio Tinto CEO Jean-Sebastien Jacques.

“Infrastructure is fundamental to global growth — it underpins communities and builds nations. China has shown the world what can be achieved,” he said.

According to Jacques, China’s infrastructure boom provides lessons for the rest of the world. Infrastructure including roads, railways, transport links and power generation are key to supporting global growth and can unleash economic growth by creating jobs, increasing investment and enhancing productivity.

“The world is already looking at how China, the wider Asian region and the rest of the world can cooperate and make better use of bilateral and multilateral approaches to deliver all-important regional infrastructure,” he said.

“At Rio Tinto, our business sees the potential from a greater focus on infrastructure through the Belt and Road Initiative. We are pioneers in