Yutong Bets Big on Belt and Road
2017-05-10
As China s State-owned enterprises actively seek opportunities from the Belt and Road Initiative, private companies are also accelerating their "going out " strategy, especially some listed companies with abundant funds Chinese leading bus maker Zhengzhou Yutong Bus Co Ltd has seen its exports for the first quarter rise by 56 percent, thanks to opportunities delivered by the Belt and Road Initiative
As China's State-owned enterprises actively seek opportunities from the Belt and Road Initiative, private companies are also accelerating their "going out" strategy, especially some listed companies with abundant funds.
Chinese leading bus maker Zhengzhou Yutong Bus Co Ltd has seen its exports for the first quarter rise by 56 percent, thanks to opportunities delivered by the Belt and Road Initiative.
Yutong's products have been sold to more than 40 countries along the Belt and Road. Since 2010, Yutong has delivered 7,121 passenger buses to to overseas markets, including Russia, Pakistan, Belarus and Georgia. Last year, 11.49 percent of its 36 billion yuan in revenue came from overseas markets.
Yutong Chairman Tang Yuxiang said that with the support of the government, the company has built factories along the Belt and Road. The company has been able to assemble its products locally, and achieved capacity and technical cooperation in Pakistan, Iran, Myanmar, Cuba, Venezuela, and Ethiopia.
Private listed companies said they are very confident about the future development, and pledge more investment in the Belt and Road Initiative.
