Zhongshan private enterprises have been enthusiastic for “stepping out to the
world” under the belt and road initiative. In the first half of the year,
Zhongshan-based listed company Tatwah Smartech Co Ltd purchased ASEAN Kypros
Satellites Ltd through its Hong Kong-based subsidiary company. Tatwah Smartech
hopes to turn into international satellite communication operator by planning
another acquisition of a Malaysian company.
In stead of single trading company mode, Zhongshan enterprises have utilized diversified methods such as developing overseas production base, marketing networks, industrial parks and exhibition centers as well as acquisition to seek global cooperation in recent years. For example, Zhongshan Changhong company establishes sales network and after-sales service points in Indonesia for global market exploitation.
By the end of 2016, Zhongshan had put direct investment in 24 countries and regions with 147 projects. Added overseas investment projects reached 90 from 2011 to 2015, which involved $760mn capital.
In 2016, up to 38 Zhongshan companies invested totally $154mn on 41 non-financial projects abroad. In the first seven months of this year, 12 Zhongshan companies invested more than $100mn on 14 non-financial projects abroad.
For encouraging local enterprises to “step out to the world”, Zhongshan government is now working on development of “Step out” service center, overseas cooperation parks and service innovation centers.