Shanxi seeks further partnerships in Austria

An economic and trade cooperation promotion conference between North China's Shanxi province and Austria, one of the major events on the European leg of the 2018 Shanxi Brands Silk Road Tour, was held in Vienna on Sept 10.

The economic and trade ties between Austria and Shanxi province can be traced back to the 1960s when Shanxi introduced converter steelmaking equipment from Austria, which greatly supported projects at the province's steel giant Taiyuan Iron & Steel Group.

In April, China and Austria agreed to establish a Sino-Austrian strategic partnership and signed 11 intergovernmental cooperation documents in tech innovation and Belt and Road construction, creating more opportunities for Shanxi to further cultural and economic links with the country.

The visit to Austria is part of Shanxi's strategy to promote the Belt and Road Initiative, said Gao Xingle, economic and commercial counselor of the Chinese Embassy in Austria, during his introduction on investment opportunities for Shanxi companies in Austria.

Chen Hecai, director of Shanxi Chamber of International Commerce, argued that Shanxi is highly complementary to Austria in capital, technology, resources and industries, meaning there is significant potential for partnerships.

Also, both Vienna and Shanxi have strong musical traditions, creating opportunities for cultural ties.

Representatives of industrial parks, companies and economic organizations from the two sides promoted their projects, competitive industries and respective business environments at the conference.

Shanxi Chamber of International Commerce signed a partnership agreement with the Austrian Society for Promotion of Friendly and Cultural Relations with China. Shanxi Guochang New Energy Co and Polytechnik Group, an Austrian supplier for biomass combustion plants, as well as two law firms also established partnership agreements at the event.