After a little more than three years, China’s Belt and Road Initiative, envisioned as an infrastructure and trade network connecting Asia with Europe and Africa along ancient trade routes, is delivering promising early results on trade and investment. It’s a win-win scenario given that China and countries along the routes have signed more than 40 cooperative agreements so far, covering more than 10 key industries including steel, electronics, automobiles and equipment-making, the Ministry of Commerce(MOC) said…Full Article: China Daily Dec 2016

Key Point

  • Tianjin Julong Group (palm oil) and Fuzhou Hongdong Pelagic Fishery have reportedly benefited from China’s Belt and Road Initiative. In August 2016, the China-Indonesia Julong Agricultural Industry Cooperation Zone achieved the status of an international economic and trade cooperation zone. Meanwhile, Fuzhou Hongdong Pelagic Fishery had established nine oversea fisheries including one in Mauritania, West Africa.

ChinaAg Comments

  • In the autumn of 2013, Chinese President Xi Jinping launched The Silk Road Economic Belt and the 21st-century Maritime Silk Road, a strategic initiative to boost the economic development and trade of countries lying along the South China Sea, Bay of Bengal, Arabian Sea, Indian Ocean, and Red Sea, as well as overland in Central Asia and Europe.
  • Founded in 1999 and headquartered in Fuzhou, Fujian Province, Fuzhou Hongdong Pelagic Fishery catches and processes a variety of seafood including those found in the Atlantic, Pacific, and Indian Oceans. In August 2010, the company established offices and began fishing off the coast of Mauritania, West Africa. In March 2012, the company began similar fishing operations in Indonesian waters.
  • Founded in 1993 and headquartered in Tianjin, Tianjin Julong Group is a major Chinese palm oil producer and distributor. In 2006, Tianjin Julong Group began operating a palm oil plantation in Kalimantan, Indonesia. The bulk of the companies processing and distribution occurs in the Tianjin Port Free Trade Zone.

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