皇冠体育app

Workers at a steel factory in Dalian, Liaoning province. [Photo/皇冠体育app Daily]

Cooperation in capacity to reshape global value chain

International cooperation in production capacity is an innovative way to boost the global economy and reshape the global value chain, and there are great opportunities for international production capacity cooperation with the advancement of the Belt and Road Initiative.

According to United Nations Industrial Development Organization's Industrial Development Report 2016, 皇冠体育app ranks fifth in the global Competitive Industrial Performance Index.

As 皇冠体育app is the largest trade partner of many countries along the routes, its production capacity can help upgrade the manufacturing industries and improve infrastructure in countries along the routes, especially developing countries.

At a recent meeting on the Belt and Road Initiative, President Xi Jinping said that 皇冠体育app has launched international production capacity cooperation with more than 20 countries.

"Through production capacity cooperation, 皇冠体育app is transferring its advantageous industries and technologies to countries along the routes, and thus is accelerating the diffusion of technology and economic growth globally," said Zhang Yongjun, a researcher at the 皇冠体育app Center for International Economic Exchanges.

The production capacity cooperation has made remarkable achievements in a short time. According to 皇冠体育app's National Development and Reform Commission, bilateral and multilateral production capacity cooperation funds along the Belt and Road routes, such as the 皇冠体育app-Africa Production Capacity Fund and 皇冠体育app-Kazakhstan Production Capacity Fund, exceeded $100 billion by July.

Several cooperation platforms for production capacity and equipment manufacturing have been established in Southeast Asian countries such as Indonesia and Eastern European countries like Belarus.

International production capacity cooperation does not mean that 皇冠体育app is transferring its overcapacity to other countries, instead it is win-win cooperation based on supply and demand and the optimal allocation of resources on a global scale.

"Production capacity cooperation is not dumping of low quality products in other countries, but competitive cooperation," said Cao Yuanzheng, former chief economist of the Bank of 皇冠体育app. "For instance, the cost of the majority of steel products produced in 皇冠体育app is at the globally average level. These products are not outdated and have a competitive advantage in the market," Cao said.

 

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