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Investing in stone processing and trade in Mozambique, fishing in Peru, Argentina, marine engineering in the Persian Gulf, and new energy cooperation in the UK and Italy... This is the latest overseas industry roadmap for Huaxi Village, Jiangyin City, Jiangsu Province.
“Huaxi Village, which started from manufacturing, set up an overseas project investment team in 2017, and plans to launch a new round of industrial layout in Europe, North America, Asia, etc.” Wu Xien, secretary of the Party Committee of Huaxi Village and chairman of Huaxi Group, said, “Huaxi’s The goal is that in the near future, overseas industries will generate profits of 1 billion yuan per year."
Huaxi Village’s “going out to sea” is the epitome of Jiangsu’s “flowers to the world”. In recent years, many enterprises in the industrial economy province of Jiangsu have accelerated the pace of overseas investment, and the quality and efficiency of “going out” have both improved. Statistics from the Jiangsu Provincial Department of Commerce show that from January to June this year, the province added 376 new foreign investment projects, an increase of 24.5%; the Chinese agreed investment amounted to 5.13 billion US dollars, an increase of 11.4%.
Jiangsu Changjiang Electronics Technology Co., Ltd. ranks in the forefront of the global packaging and testing industry, but is limited by technical shortcomings, making it difficult for products to enter the high-end market. In 2015, Changjiang Electronics Technology Co., Ltd. completed a 100% equity acquisition of rival Singapore-based packaging manufacturer Xingke Jinpeng. According to Wang Yuanzhang, senior vice president of Jiangsu Changjiang Electronics Technology Co., Ltd., Xingke Jinpeng has many advanced packaging technologies that represent the future development trend of the industry. After the completion of the acquisition, Changdian Technology ranks sixth in the global ranking of IC packaging and testing industry. The position jumped to the third place and achieved full coverage of high, medium and low-end products.
"From looking for resources to gradual shifting to the development of advanced manufacturing and high-tech industries, the industrial structure of Jiangsu enterprises' foreign investment is gradually optimized." Ma Minglong, director of the Jiangsu Provincial Department of Commerce said.
In the first half of this year, Jiangsu had 74 foreign M&A projects. The Chinese agreed to invest US$2.22 billion, accounting for 43.3% of the province's total. M&A has become an important way for Jiangsu to “go global”.
Trina Solar Limited announced in May that it has completed the acquisition of Spain's photovoltaic tracking bracket company Nclave, which is the first case for Chinese PV companies to acquire overseas tracking bracket companies. “Nclave has been deeply involved in the field of photovoltaic scaffolding for more than 10 years, and its global leading technology will be deeply integrated into Trina Solar's intelligent development, helping Trina Solar to transform from product suppliers to solution providers.” Trina Solar Vice President and Global Sales President Yin Rongfang said.
With the gradual spread of the internationalization strategy, more and more Jiangsu enterprises have carried out technological breakthroughs and model innovations, relying on the reconstruction and upgrading of production factors, and gradually moving toward the high-end of the industrial chain.
Jiangyin Beirui Biochemical Technology Co., Ltd. obtained the world's first registration certificate for mussel mucin medical products in 2014. In 2017, Berryson built two overseas laboratories and one pilot test base at Uppsala University and Karolinska Institute in Sweden. “These innovation incubators have set up a platform for us to introduce top international talents and projects. Two to three projects can be introduced to Jiangyin every year, and new products are constantly being promoted,” said Gu Ming, chairman and general manager of the company.
The industrial park is the main engine of Jiangsu's economic take-off and the main engine of manufacturing development. In the process of promoting the internationalization of enterprises, Jiangsu's overseas “enclave” has accelerated its growth.
As of June 2018, the Ethiopian Oriental Industrial Park invested and constructed by Jiangsu Qiyuan Group completed an infrastructure investment of US$106 million, and 84 enterprises entered the park, achieving a total output value of nearly US$900 million. As of the end of 2017, the Sihanouk Port Special Economic Zone (hereinafter referred to as the “Westport Special Zone”) jointly developed by Wuxi Hongdou Group and China-Cambodia Enterprises has entered more than 110 enterprises and solved 17,000 jobs for the local area. Zhou Haijiang, Chairman of the Board of Directors of Hongdou Group, said that in the future, the Westport Special Zone will strive to become an ecologically livable new city with 300 enterprises stationed, 100,000 industrial workers employed and 200,000 people living.
“From the export of products, to encouraging enterprises to go out, to the establishment of overseas industrial parks, and exporting the soft power of park management and services, Jiangsu’s road to manufacturing 'sea' is more stable,” said Ma Minglong.