Since the beginning of this year, Jiangsu has been continuously expanding new areas of cooperation with countries that joined the Belt and Road Initiative in economy, trade, energy and infrastructure. In the first half of the year, the import and export scale between Jiangsu and countries under BRI cooperation exceeded RMB 1 trillion.
As one of the largest fossil fuel producers in the world, the UAE market has a strong demand for oil exploration equipment. This Jiangsu company, located in Jiangyan District, Taizhou City, is intensively producing all kinds of drilling equipment. In order to increase the production capacity and seize the market, the company invested RMB 100 million this year to introduce automatic production lines and precision equipment, which increased the production capacity by more than 20%, effectively shortened the delivery time of products, significantly increased overseas orders, and further developed overseas markets such as markets in the Middle East. In the first half of this year, the value of the company’s exports to the UAE was nearly RMB 40 million, a year-on-year increase of 327%.
You Donglin, production director of Jiangsu Shuguang Huayang Drilling Tool Co., Ltd., said that sales had risen sharply this year, and orders had been placed in August, with export orders accounting for more than 80%. From January to June, sales invoices registered more than RMB 400 million.
https://en.jiangsu.gov.cn/art/2024/7/27/art_54122_11307091.html