The city of Xuzhou City has taken advantage of its role of being the central city of the Huaihai Economic Zone and the important city on the country’s Belt and Road program to actively promote the open economy and boost export growth.
This 700-ton hydraulic excavator has 52 patents with independent intellectual property rights. The 5-meter-wide bucket can hold to 100 people while the bucket can dig 50 tons of coal.
The patented products have helped Xugong Group to expand its overseas markets. In 2017, Xugong's exports increased by nearly 90% year-on-year while its sales accounted for 72% of the total sales in the 57 Belt and Road countries and ranking first in 30 of the 57 countries.
While giving support to key enterprises and the export of key products, Xuzhou has come up with new growth points in foreign trade. Huaihai Holding Group, a leading company in small-sized vehicles, set up Huaihai Overseas Development Company in 2016 in response to the demands from the overseas markets. In less than one year, the products made inroads into 65 countries with its sales expected to grow by 70% in 2018 to top 60 million US dollars in annual sales.
In less than two years, Xuzhou has been established as a service outsourcing demonstration city in Jiangsu Province with ten open-door platforms such as electronic ports and international mail exchange centers, promoting the development of its open economy that features accelerating speed, expanding scale and improving quality.
From January to May this year, Xuzhou registered 31.89 billion yuan of import and export, a year-on-year increase of 75.6% with the total volume of import and export ranking first in the province for three consecutive months.
(Source: Jiangsu International Channel)
