Tan Xuguang: Hong Kong an indispensable strategic platform

A seminar on deepening beneficial operations between Shandong and Hong Kong and supporting reform and development of state-owned enterprises was held on Dec 6 in Hong Kong.

Tan Xuguang, president of Shandong Heavy Industry Group (SHIG), gave a speech during the seminar on behalf of Shandong-based state-owned enterprises.

He said that Hong Kong has become an indispensable strategic platform for SHIG, a role it will continue to play.

SHIG owns several listed companies, including Weichai Power, Weichai Heavy Machinery, Shantui Construction Machinery, Zhongtong Bus, Asiastar Bus, Germany Kion Group and America PSI.

Tan said that with robust finance services industry and sound capital base, Hong Kong has always been an important investment and financing platform for SHIG and a global sales and service center for SHIG's high-end products,

He added that Weichai Power listed in Hong Kong on March 11, 2004, which enabled mixed ownership, paved the way for internalization of capital and laid the institutional foundation for the company's sustained and rapid development.

Through Hong Kong's financial capital platform, SHIG has merged and acquired the 100-year-old Baudouin Engine Company in France and Linde hydraulics in Germany with local manufacturing and strategically restructured the Italy Luxury Yacht Company Ferretti.

It achieved strategic cooperation with the industrial forklift and service provider Kion and supported it in acquisition of automation logistics provider Dematic in the USA.

Also, the company made strategic investment in America PSI, an alternative fuel power system provider, Ceres Power in the UK and hydrogen fuel cell provider Ballard Power in Canada.

Meanwhile, SHIG established bases in India, Thailand, Myanmar, Ethiopia, Belarus and Russia to accelerate manufacturing localization around the globe.

Tan said that SHIG is targeting increasing its international presence and becoming a global fortune 500 company with improving competitiveness and revenue exceeding $100 billion by 2030.

To achieve that goal, Tan said that SHIG will continue to utilize Hong Kong's financial capital strength to support SHIG's business development and global reach.

SHIG is one of the leading automobile and equipment manufacturing groups in China, with global influence and comprehensive strength. Headquartered in Jinan, Shandong, it has over 80,000 employees all over the world. Its main business covers automobiles, engineering machinery, powertrain systems, intelligent logistics, luxury yachts and financial services. 

The seminar was part of the 2018 (Hong Kong) Shandong Week, a large-scale campaign to promote Shandong's various business sectors in a bid to attract Hong Kong investment.

A seminar on deepening beneficial operations between Shandong and Hong Kong and supporting reform and development of state-owned enterprises is held on Dec 6 in Hong Kong. [Photo/iqilu.com]

Tan Xuguang, president of Shandong Heavy Industry Group (SHIG), gives a speech during the seminar on Dec 6 in Hong Kong. [Photo/iqilu.com] 

Nearly 100 distinguished guests from Shandong and Hong Kong take part in the seminar, including senior government officials, business leaders, investors and representatives from enterprises and commercial organizations. [Photo/dzwww.com]