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Companies chase foreign deals
By Staff Reporters |
May 31, 2010, Monday
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Print Edition
Print Edition
ENCOURAGED by a better global economic climate, Jiading District businesses are looking overseas to explore emerging markets.
An example of this new spirit of enterprise is the timber processing business recently opened by Shanghai Hongxing Building Materials Co Ltd in Bolivia. It is the company's fourth wood manufacturing and processing base in South America since 2005.
Started in Jiangqiao Town in 2000, Hongxing specializes in manufacturing of timber flooring and stairs. Sales volumes are expected to hit 300 million yuan (US$43.92 million) this year, 172 million yuan more than last year.
Hongxing's three other timber processing centers are in Peru and employ almost 500 local workers. They also serve as timber processing training centers for 50 young people every year.
"There are a lot of business opportunities abroad,'' said Huang Shunhe, Hongxing's chairman.
"We will continue to seek the best projects to make the business more competitive."
Suffering from more severe trade protectionism in Western countries, many Chinese businesses have shifted their focus to emerging markets in the ASEAN Free Trade Area.
Shanghai Yuanda Aluminum Industry Engineering Co Ltd in Jiading is one of the biggest curtain wall manufacturers in East China.
It outbid many competitors last year to win the "Keangnam" curtain wall project in Vietnam worth US$18.61 million.
The company's business activity this year also includes projects in Hong Kong and countries such as Cambodia.
In the first quarter of this year, its output value reached 360 million yuan, an increase of 100 million yuan over the same period last year.
Wang Renhai, general manager of Shanghai Yangtai Lighting Electrical Appliances Co Ltd, believes that before promoting products on the global market, companies should first of all understand the needs of foreigners.
"We used to produce lighting for industrial usage,'' Wang said. "But the orders fell sharply during the economic downturn, so we started to develop lighting for domestic usage."
After several market surveys, the company developed a traditional Chinese style energy-saving lamp that was well received by Western customers.
With a focus on markets in the United States, Canada, South Korea and Europe, Yangtai's sales volume in the first quarter of this year hit 32.92 million yuan, up 50 percent on the same period last year.
Statistics from Jiading's economic department shows that the district boasts more than 1,000 foreign trade enterprises doing export business.
An example of this new spirit of enterprise is the timber processing business recently opened by Shanghai Hongxing Building Materials Co Ltd in Bolivia. It is the company's fourth wood manufacturing and processing base in South America since 2005.
Started in Jiangqiao Town in 2000, Hongxing specializes in manufacturing of timber flooring and stairs. Sales volumes are expected to hit 300 million yuan (US$43.92 million) this year, 172 million yuan more than last year.
Hongxing's three other timber processing centers are in Peru and employ almost 500 local workers. They also serve as timber processing training centers for 50 young people every year.
"There are a lot of business opportunities abroad,'' said Huang Shunhe, Hongxing's chairman.
"We will continue to seek the best projects to make the business more competitive."
Suffering from more severe trade protectionism in Western countries, many Chinese businesses have shifted their focus to emerging markets in the ASEAN Free Trade Area.
Shanghai Yuanda Aluminum Industry Engineering Co Ltd in Jiading is one of the biggest curtain wall manufacturers in East China.
It outbid many competitors last year to win the "Keangnam" curtain wall project in Vietnam worth US$18.61 million.
The company's business activity this year also includes projects in Hong Kong and countries such as Cambodia.
In the first quarter of this year, its output value reached 360 million yuan, an increase of 100 million yuan over the same period last year.
Wang Renhai, general manager of Shanghai Yangtai Lighting Electrical Appliances Co Ltd, believes that before promoting products on the global market, companies should first of all understand the needs of foreigners.
"We used to produce lighting for industrial usage,'' Wang said. "But the orders fell sharply during the economic downturn, so we started to develop lighting for domestic usage."
After several market surveys, the company developed a traditional Chinese style energy-saving lamp that was well received by Western customers.
With a focus on markets in the United States, Canada, South Korea and Europe, Yangtai's sales volume in the first quarter of this year hit 32.92 million yuan, up 50 percent on the same period last year.
Statistics from Jiading's economic department shows that the district boasts more than 1,000 foreign trade enterprises doing export business.
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