Prosperous region looks to Belt, Road investment
At a modernized feed production workshop of Liaoning Wellhope AgriTech Joint Stock Co Ltd, an orange mechanical arm moves bags of animal feed down from the production line, which are prepared for export to markets involved in the Belt and Road Initiative.
After setting up feed production and food processing plants in several countries including Nepal, India, the Philippines and Indonesia, Shenyang-based Wellhope plans to further increase its overseas investments and enhance its earnings in BRI markets.
“Populations in BRI economies account for more than 40 percent of the world’s total; thus, they have provided a huge market for us to develop and expand our trade in livestock products,” said Jin Weidong, chairman of Wellhope.
In addition to feed, the company also engages in the chicken processing business abroad. In December last year, it brought first batch of cooked chicken products to Japanese customers.
“Wellhope’s overseas business was well developed in 2017, with sales revenue of the company and its partners jumping about 70 percent year-on-year to 200 million yuan ($28.75 million),” said Wang Zhenyong, vice-president of the company.
Like Wellhope, many other companies in Northeast China’s Liaoning province have also been deploying more resources and manpower to develop business in countries and regions related to the BRI.
Liaoning enjoys unique geographical advantages, as it is not only a coastal province, but is also in close proximity to Japan, Russia, the Republic of Korea and the Democratic People’s Republic of Korea. The province has built multiple international business channels that have significantly improved the convenience of customs clearance and facilitated local export-oriented companies.