More than 4 years has passed since China's president Xi Jinping proposed and launched the “Belt and Road” Initiative” (BRI) in 2013, which refers to the Silk Road Economic Belt and 21st Century Maritime Silk Road. Under the Initiative, it links China and Central Asia, West Asia, and parts of South Asia, aiming to create a platform for economic cooperation, especially trade and financing collaboration and to benefits all. So far, the Belt and Road Initiative has proved to be a practical drive for the rapid growth of Chinese local companies. As a leading manufacturer of electric automation technology in China, INVT has been paying close attention and making efforts to take advantage of this initiative. After the basic introduction of the Belt and Road, we will further discover INVT and this initiative.
What is “the Belt and Road” Initiative
According to the official government website,“The Belt and Road Initiative is a systematic project, which should be jointly built through consultation to meet the interests of all, and efforts should be made to integrate the development strategies of the countries along the Belt and Road. The Chinese government has drafted and published the Vision and Actions on Jointly Building Silk Road Economic Belt and 21st-Century Maritime Silk Road to promote the implementation of the Initiative, instill vigor and vitality into the ancient Silk Road, connect Asian, European and African countries more closely and promote mutually beneficial cooperation to a new high and in new forms.” (http://english.gov.cn/beltAndRoad/)
History of “the Silk Road”
Dating back to the history, about 2,000 years ago, China's imperial envoy Zhang Qian helped to establish the Silk Road, an ancient network of trade routes that connected China with Central Asia and the Arab world. The route was titled as “the Silk Road” because one of the China's most important exports at that time is silk. The cultural communication and trade on the Silk Road played a significance role on the development of the civilizations of China and connecting areas, including the Goguryeo kingdom (Korea), Japan, the Indian subcontinent, Persia, Europe, the Horn of Africa and Arabia, building political and economic relations between these countries.
INVT and “the Belt and Road” Initiative
1. The overlap of sale areas The Belt and Road Initiative is intended to connect more than 60 countries on four continents, reaching more than 60% of the world’s total population, one-third of global GDP, and a quarter of all goods the world moves, which also covers a large proportion of sale areas of INVT.
INVT, established in 2002, has been exporting to overseas for more than 11 years, covering high school low voltage inverter, elevator intelligent control system, servo system, PLC, HMI, SVG, UPS, motor and electric spindle, photovoltaic inverter, online management system for energy conservation and emissions reduction, rail transit traction system, new energy automobile electronic control system, etc. So far, our marketing networks in more than 60 countries and regions all over the world. There are a lot of overlap possibles in the trade and export of INVT strategy with the “the Belt and Road” Initiative.
2. Huge opportunities Countries such as Pakistan, South Africa as well as countries in South America all have great demand in their markets to improve their power and infrastructure sectors, which provides Chinese companies, such as INVT, with a large number of potential opportunities. As one of INVT distributors in Pakistan said, with the benefit from the Belt and Road” Initiative and China–Pakistan Economic Corridor, he sees abundant opportunities in the upcoming future.
Owing to the economical imbalance of the different countries, Chinese companies are able to contribute to the development of the countries along these two trading routes in various aspects, including power, infrastructure construction and more. INVT, as a rising star of domestic brand, definitely can make advantage of its advanced technologies and continuous achievements to assist them in providing them with reliable products and solutions in various industries and realizing production upgrade to be an intelligent manufacturer.
With several years of development, the Belt and Road Initiative has proved to be a practical tool for driving the growth of Chinese companies, such as our project of the application in heavy industries in South Asia.
Besides, developing infrastructural ties with its neighboring countries will reduce regulatory barriers to trade by aligning standards. With initiative, government provides strong backup and strong support for Chinese companies to explore the huge market.
At present, INVT wants to target more partnerships and respond to the call of government positively, and actively implement the “going global" strategy, to further diversify our global sales. We will follow the step of the belt and road, review our previous marvelous project, discover our potential sales and trade in these regions, in order to support people along these two trading routes with reliable products and to help create better lives for them.