Companies take root overseas via Belt and Road Initiative

Li Dongsheng, a deputy to the National People's Congress (NPC) and president of TCL, China's leading consumer electronics enterprise. [Photo provided to China.org.cn]

Chinese companies are revving up their localization strategies overseas through the Belt and Road Initiative, bringing industrial capacity, R&D and services to host countries, said a business leader on March 3.

Li Dongsheng, a deputy to the National People's Congress (NPC) and president of TCL, China's leading consumer electronics enterprise, told China.org.cn that the country's flagship policy to restore the ancient Silk Road has brought about tangible benefits for companies' overseas business.

The China Railway Express, a trans-continental train service vital to the Belt and Road Initiative, has facilitated companies' expansion in Central Asia and Europe, said the manufacturer tycoon.

It used to take 35 to 40 days to transport products from Guangdong to Poland, where its center for European markets is situated. But in 2016, with the opening of the railway express, TCL's products were sent by train from Chengdu to Poland in about 12 days.

The trans-continental train service has greatly increased efficiency along the whole supply chain, saving time and money at the same time, said Li.

With its products spanning from TVs, phones, washing machines, fridges, air conditioners, small home appliances to LCD panels, the manufacturer giant boasts a total of 21 manufacturing bases worldwide and has business operations in 160 countries and regions.

"A company's going global does not mean selling goods overseas, but expanding business and taking root in the host country," he said. "And that will truly benefit the local community and bring about win-win cooperation."

TCL shipped over 20 million TVs worldwide last year, following Samsung and LG to be the world's third largest TV maker in terms of shipment.