NINGBO, June 20 (Xinhua) -- After several years of 'honeymoon' cooperation, the 16+1 Cooperation between China and sixteen countries in Central and Eastern Europe is becoming a cooperation highland for the Belt and Road Initiative.
The data shows that in 2017, the import and export volume between China and CEEC countries exceeded 68 billion U.S. dollars, increasing by more than 15 percent year-on-year. The trade structure between the two sides has been continuously optimized and the trade area has continued to expand.
"Despite increasing competition, our sales are growing rapidly every year," said Zhao Su, a Chinese representative from a Czech crystal manufacturer, participating in the 4th China-CEEC Investment and Trade Expo recently held in Ningbo, Zhejiang province. His feelings are not unique, being shared by countless others in attendance.
China has cooperated with these 16 countries in Central and Eastern Europe since 2012 when, after advocacy from the Chinese side, the 16+1 Cooperation project began in Warsaw, Poland. Over the past six years, cooperation has expanded from small to large and from shallow to deep, involving areas such as economics, trade, investment, and finance.
Feng Yangwen, deputy general manager of the Ningbo Shipping Exchange, responsible for studying the maritime silk road trade index and director of the company's big data center, said that in recent years, China's trade indicators with Central and Eastern Europe have been on the rise.
"In 2017, the average value of the 16+1 import and export trade index rose by 16.12 percent year-on-year. From 2014 to 2017, the proportion of import and export trade between China and the CEEC countries in Sino-European trade rose from 7.55 percent to 8.73 percent," said Feng.
At this year's event, there were a total of 177 investment cooperation projects involving Central and Eastern European countries, with a total investment intent exceeding 10 billion euros.
Specifically, there are 101 projects in Bosnia, 11 in Slovakia, 47 in Hungary, 8 in Poland, and 10 in Latvia. These projects span dozens of industries, including metal manufacturing, the automotive industry, electronics and mechanical engineering, chemical, textiles, and ICT.
Agnese Stūrmane, representative of the Investment and Development Agency of Laivia, guest of honor of the China-CEEC Investment and Trade Expo, said that for CEEC countries, China represents a vast market. Additionally, good foundations for cross-border e-commerce have already been laid, and Central and Eastern European countries hold high expectations for trade and investment dealings with China.
Chinese companies are also enthused about the investment opportunities presented by the Central and European countries, and have actively invested in the region in recent years.
Ningbo's Sanjie Lights Co., Ltd, for example, has established a factory in Hungary and an office in Poland. The company's products now have a strong presence in the Central and Eastern European market, competing with dominant German products. In the LED light field, Sanjie Lights' products are of similar quality to those manufactured in Germany but the prices are 30 percent lower. This cost-effective value advantage has seen Sanjie Lights' export share in Central and Eastern Europe continue growing.
In addition, Ningbo Menovo Pharmaceutical Co., Ltd. and Krka, Slovenia's largest pharmaceutical company, have maintained a long-standing and thriving partnership; Ningbo Joyson Electronics Corp., through its wholly-owned subsidiary Preh from Germany, has established auto parts production plants in Romania, Poland, and other Central and Eastern European countries.
In addition to manufacturing, many modern service companies in China have also been deployed in Central and Eastern European Countries. Ningbo (Central and Eastern European Countries) E-Commerce Park has joined hands with China Post, Ali Cainiao, ZTO Express, and other logistics companies to invest in logistics projects in the region, aiming at providing infrastructure for cross-border e-commerce and other industries.
Shao Yifeng, president of Ningbo Westrail Supply Chain Co., Ltd., which operates the China-Europe fright train in Ningbo, said that in order to integrate into the Central and Eastern European market faster, the company acquired CIS, a large logistics company in Poland, in April this year and set up a European warehouse in Warsaw. The next step, he said, was to establish overseas bases in Hungary and other countries.
The data shows that in 2017, Ningbo invested in 125 projects in cooperation with Central and European countries, the most significant investment from any Chinese city that year.
(Edited by Yang Qi, kateqiyang@xinhua.org)
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