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.

According to the statistics of Nanjing Customs, import and export volume reached RMB 1.2 trillion between Jiangsu and countries under BRI cooperation in the first half of this year, an increase of 13.6%, which boosted the import and export growth rate of Jiangsu by 5.8 percentage points, and the proportion increased to 44.6%. Not only do products made in Jiangsu continue to interpret the story of win-win cooperation along the BRI routes, but Jiangsu enterprises also provide strong technical support for countries under BRI cooperation in promoting new energy reform. Under the background of global energy transformation, Saudi Arabia and other Arab countries are also actively seeking to reduce the dependence on traditional energy and accelerate the pace of green and low-carbon transformation. Recently, Envision Group signed a cooperation agreement with Public Investment Fund of Saudi Arabia and Vision Industries (an energy equipment company in Saudi Arabia), and a wind power equipment joint venture company will be established in Saudi Arabia to locally manufacture wind turbines and key components, so as to help the wind power value chain in Saudi Arabia achieve the goal of 75% localized production by 2030 and boost clean energy transformation in the Middle East.