Guizhou SOEs seize new opportunities in dual circulation

Road construction workers of Guizhou Communications Construction Group Co lay pitch on a road connecting Ulan Bator with Darhan. [Photo/Guiyang news network]

Against the backdrop of the Belt and Road Initiative and the dual circulation development paradigm, State-owned enterprises (SOEs) in Guizhou are taking proactive measures to go global.

The Vietnam-based workshop of Guizhou Tyre Co, for example, has registered a stable daily output of more than 2,500 tires, which are sold in North America and Europe. Guizhou Guitianxia Tea Co has formed a foreign trade chain for its tea businesses and has received an overseas order worth 70 million yuan ($10.42 million). The company is currently busy preparing tea products bound for Mali and Morocco.

Globalization has brought new opportunities to Shougang Guiyang Special Steel Co, whose key products have the largest domestic market share, and registered 7.77 million yuan in overseas market sales.

Guizhou's SOEs are building a series of demonstration infrastructure and industrial projects based in countries and regions involved in the Belt and Road Initiative. Guizhou Communications Construction Group Co has four overseas projects under construction, with the contract amount totaling $370 million.

Over the first quarter of 2022, seven China-Europe freight trains were launched from Guiyang, capital of Guizhou, helping Guizhou products go global.