​Overseas parks contribute to trade with BRI countries

Linyi city of East China's Shandong province, which is often dubbed the "Logistics Capital of China", is leveraging its unique advantages in commercial and logistics sectors and developing overseas industrial parks to boost the city's international trade and promote its economic and cultural exchanges with countries involved in the Belt and Road Initiative.

A view of Central European Trade and Logistics Cooperation Zone in Budapest, Hungary. [Photo provided to chinadaily.com.cn]

The Central European Trade and Logistics Cooperation Zone in Budapest has utilized its advantages in product exhibition, overseas warehousing, and international logistics supply chain to play a vital role in promoting cooperation and development between Chinese and Hungarian enterprises.

Founded in 2012, with the support of the local government, the park is backed by investments from Linyi-based Shandong Imperial International Investment Co. According to Wang Qing, a manager of the company, the park was home to 176 enterprises with a cumulative total trade volume of $4 billion as of the end of 2022.

Wang said that the park has facilitated e-commerce cooperation between Chinese and foreign enterprises. Hungary has become an important port and distribution center for Chinese e-commerce enterprises to enter Central and Eastern Europe.

The park has played an active role in deepening cooperation with countries involved in the Belt and Road Initiative and built a bridge for the development of cooperation between Central and Eastern Europe.

A view of Gwadar Port, Pakistan. [Photo provided to chinadaily.com.cn]

To integrate itself into the Belt and Road Initiative, the Linyi Trade City Overseas Investment Co started to build a commercial trade project in Gwadar, Pakistan in 2017. This project, which became operational in January 2018, has since increased the value of Linyi's exports to Pakistan to nearly $12 million.

According to Liu Hui, vice-general manager of Linyi Trade City Overseas Investment Co, the company also established an exhibition and sales center in Phnom Penh, the capital of Cambodia, thus helping Linyi's local products to be sold in other countries involved in the Belt and Road Initiative.

Workers at a foundry of the Weindustry Park in the Ondo state of Nigeria. [Photo provided to chinadaily.com.cn]

The Weindustry Park built in the Ondo state of Nigeria and invested by Linyi-based Shandong Zhongyang Group has developed a key project that helps promote local economic development.

After 20 years of development, the park has attracted more than 30 enterprises related to the wood, ceramics, chemical, paper making, trade, and logistics industries.

Hao Aijun, chairman of the Shandong Zhongyang Group, said that the company will further expand its presence in Africa, focus on industrial development, and strengthen cooperation between Chinese and African countries to further contribute to the Belt and Road Initiative.

There are presently 151 countries and 32 organizations participating in the Belt and Road Initiative. More than 80 overseas economic and trade cooperation zones have been built, and more than 420,000 jobs have been created for locals.