Jiangyan district helps local enterprises enter Belt and Road countries

Authorities of Jiangyan district in Taizhou, East China's Jiangsu province have been taking steps to help local trading companies expand their business in countries involved in the Belt and Road initiative.

For example, the district recently organized the Thailand-China (Taizhou) Investment Promotion Seminar to provide local enterprises with insights into the market environment and policies of such countries.

Authorities have also implemented various incentive policies and measures, such as cash rewards and subsidies for companies that participate in overseas exhibitions and investment inspections.

Many companies in the district have been going global in recent years.

For example, Jiangyan enterprise Taizhou Huali New Materials Co Ltd is scheduled to commence construction on its first overseas factory in Thailand in August.

The company intends to produce 8 million square meters of PVC flooring annually and generate annual sales of $450 million.

Jiangsu Pacific Precision Forging Co Ltd, a company based in the Jiangyan Economic Development Zone, is also planning to establish a branch in Thailand that will produce differential gears and assemblies.

Several major investment projects in Thailand, Singapore and Vietnam funded by Jiangyan enterprises were approved recently. These projects have a combined investment value of $163.49 million.