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Andrea Chen

China is expected to pick up the pace of its offshore industrial park programme to help Chinese firms expand production abroad, analysts say.
The move could help the companies maintain their competitiveness, offsetting the impact of rising labour costs in China.
China has signalled its intention to build more industrial parks overseas, with President Xi Jinping visiting the construction site of a China-backed industrial park during his state trip to Belarus this week.
The park, 25km east of the capital Minsk, will cover 91.5 sq km and will house various industries including textile and food processing.
It was by far the biggest project of its kind by China abroad, state media said.
Six Chinese firms, including telecommunications equipment provider ZTE Corporation, have signed deals to build plants in the park and will enjoy a 10-year waiver on profit and property taxes.
The State Council on Tuesday said Beijing planned to set up more such parks as part of its "One Belt, One Road" strategy to boost flagging foreign trade.
China had been building industrial parks in Africa for over a decade and now wanted to work more closely with its neighbours, said He Manqing, director of the commerce ministry's Institute of Foreign Investment.
"Around 60 countries have shown interest," He said. "We can't set up economic zones covering such a vast area at a go, but we can start by building smaller parks and turn those 'dots' into a 'belt' to boost the area's economic performance."
Xi kicked off his first visit to India last year in Gujarat, where he oversaw the signing of agreements to set up a power transmission equipment industrial park. In Premier Li Keqiang's trip to Ethiopia last May, he visited the China-led Oriental Industrial Park.
Shifting some manufacturing industries overseas would help balance the industrial structures both at home and abroad, said National Development and Reform Commission senior researcher Zhang Jianping .
Given increasing labour costs and rising raw material prices, it would benefit both China and other countries if manufacturing firms explored new bases abroad that enjoyed comparative industry advantages, Zhang said.
But He said having more such parks overseas might not boost China's declining foreign trade.
"Products manufactured there by Chinese firms would no longer be counted in our foreign trade volume when they are sold abroad," she said.


China to push overseas industrial park plans into higher gear

A model of the Great Stone China-Belarus industrial park near Minsk, which President Xi Jinping visited this week. Photo: AFP

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China is expected to pick up the pace of its offshore industrial park programme to help Chinese firms expand production abroad, analysts say.


China to push overseas industrial park plans into higher gear

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}China is expected to pick up the pace of its offshore industrial park programme to help Chinese firms expand production abroad, analysts say.

China is expected to pick up the pace of its offshore industrial park programme to help Chinese firms expand production abroad, analysts say.