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Xiamen enterprises expand overseas footprint

chinadaily.com.cn| Updated: July 31, 2023 L M S


A view of Xiamen. [Photo provided to chinadaily.com.cn]

Several Xiamen enterprises have been expanding their business overseas to achieve greater development.

KZJ Global, a subsidiary of LETS Group, a listed company in Xiamen, recently established a wholly-owned subsidiary specializing in new materials in Vientiane, the capital of Laos.

KZJ Global has been continuously expanding its overseas business by establishing production bases abroad and exporting its products to nearly 20 countries in Southeast Asia, the Middle East, Africa, South America, and other regions. The company has filed for patents in countries such as the Philippines, Malaysia, Indonesia, and South Africa.

XYS SATU, the first Supramax bulk carrier of PT. Xiangyu Shipping Line, a subsidiary of Xiamen Xiangyu Group Co in Indonesia, recently completed its maiden voyage.

The group has expanded its overseas business to countries and regions invovled in the Belt and Road Initiative, including Singapore, Indonesia, Vietnam, and other locations. It has established nearly 10 overseas branches worldwide. In 2022, the total import and export volume between Xiangyu Group and countries and regions involved in the BRI was approximately $9.4 billion.

In addition, Agricultural Products Group, a subsidiary of C&D Inc, recently signed a procurement cooperation agreement with Singapore's Olam. The contracted amount is expected to reach $500 million, paving the way for new opportunities in regional agricultural economy.

C&D Inc also signed a strategic cooperation agreement with Magang (Group) Holding Co in May. The two companies will jointly invest in and establish overseas investment platforms to promote the implementation of overseas steel industry projects.

Why Xiamen

  • About Xiamen

    Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.

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