Arab Today, arab today china hones global competence via industrial prowess
Last Updated : GMT 06:19:57
Arab Today, arab today
Arab Today, arab today

China hones global competence via industrial prowess

Arab Today, arab today

Arab Today, arab today China hones global competence via industrial prowess

Chinese government
Beijing - XINHUA

Facing an economic slowdown, China is eyeing the global market in an ambitious drive to fast-track industrial cooperation, which it says will benefit both the country and the world economy.

The Chinese government sees industrial cooperation with other countries as one of the nation's most important agendas, with the cabinet issuing a policy guideline on Wednesday to encourage competent domestic sectors, including railways, electric power, telecommunications, construction and machinery to expand overseas.

The cabinet said domestic companies may seek chances for industrial and equipment manufacturing cooperation through a range of measures, including investment, projects contracting, and technological cooperation.

Benefits are more than mutual, as it gives China the chance to better its industrial prowess through upgrades and improve its international competence. Such cooperative projects also boost employment and economic vitality in other countries.

The world economy as a whole will also benefit from industrial and equipment manufacturing cooperation among nations, the Chinese cabinet said.

Diao Chunhe, chairman of the China International Contractors Association, said project contractors are embracing huge business opportunities in infrastructure cooperation, particularly in countries along the Belt and Road, China's initiative to enhance international connections through building regional transport networks.

Over the years, China has relied on project contracting to boost exports of raw materials and equipment and nurture its domestic industries such as transport, telecommunications and finance.

"In the past, China's overseas infrastructure projects have focused on the property market, but at present, sea ports, airports, expressways and railways are dominant," Diao said.

On Wednesday, Brunei and China agreed on the Pulau Muara Besar Bridge project worth 204 million U.S. dollars. Boston in the U.S. signed a contract with China's bullet train maker CNR to purchase 284 subway trains worth almost 7 million U.S. dollars in January.

In November, the country also signed a 12 billion-USD agreement to build a railway along Nigeria's coast.

The Chinese cabinet said industrial cooperation should fully take into account other countries actual needs and concerns.

To facilitate economic and trade cooperation, the cabinet said efforts will be made to improve a cross-border yuan payment system and simplify administrative procedures for companies' overseas investment.

China in recent years has also called for foreign input in new institutions such as the Asian Infrastructure Investment Bank and BRICS development bank to finance infrastructure projects. It also set up a 40-billion-USD Silk Road Fund to provide financial service for connection projects.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china hones global competence via industrial prowess Arab Today, arab today china hones global competence via industrial prowess

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china hones global competence via industrial prowess Arab Today, arab today china hones global competence via industrial prowess

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday