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Hunan Publishes Three-Year Production Capacity and Equipment Manufacturing International Co-operation Action Plan

Hunan Province has issued a Three-Year Action Plan for Promoting International Co-operation with Regard to Production Capacity and Equipment Manufacturing (2018-2020). This outlines its proposals for expanding into a number of foreign markets, while also maintaining steady growth in overseas investment and project management, with emphasis on the wider use of Hunan-made equipment in the delivery of such projects. Additionally, it also details proposals to establish at least five overseas demonstration bases, designed to promote international industrial capacity co-operation, over the next three years.

In particular, the plan focuses on the development of nine key sectors: engineering machinery; rail transit equipment; iron and steel; non-ferrous minerals; construction and building materials; power-generating equipment; agriculture; emerging industries; and scientific research / development. Of these, it singles three out for more specific attention:

Engineering Machinery

For this particular sector, the focus will be on the opportunities arising from the infrastructure connectivity plans of the countries along the BRI routes. Looking beyond this, priority will also be given to servicing major African, ASEAN and Latin American infrastructure development projects.

Rail Transit Equipment

In line with plans to promote the development of rail infrastructure along the BRI routes, Hunan will look to capitalise on the growing international demand for rail transit equipment. In order to achieve this, local businesses with experience in this sector will be incentivised to participate in overseas rail transit projects in a number of capacities, including project contracting and sub-contracting; acquisitions and mergers; investment in establishing new production facilities; and the promotion of international rail interconnectivity.

The Iron and Steel Industry

Pillar enterprises are encouraged to develop overseas marketing networks through a range of options, including acquisitions and joint ventures. At the same time, opportunities will be sought to establish new iron and steel production bases as a means of increasing export levels within this sector.

For further details (in Chinese), please refer to the following link:
https://www.yidaiyilu.gov.cn/zchj/jggg/40615.htm

Content provided by Picture: HKTDC Research
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