Germany’s Siemens sets up Belt and Road office in Beijing
German industrial and engineering group Siemens will set up an office in Beijing to boost international cooperation under China’s Belt and Road initiative, the company said on Friday.
The move will help strengthen Siemens’ cooperation with Chinese and international companies and expand business opportunities brought about by the Belt and Road initiative, according to the company’s statement.
The Belt and Road initiative is China’s ambitious project to boost trade and infrastructure investment in more than 65 countries along the ancient Silk Road trade routes from Asia to Europe and Africa.
Siemens said it had already partnered with hundreds of Chinese companies in overseas projects and could help them adapt to and expand business in Belt and Road countries in sectors such as power, oil and gas, chemicals, mining and building materials.
The company will also hold an international forum on the Belt and Road initiative in June.
“We are fully committed to promoting the Belt and Road initiative,” said Cedrik Neike, managing board member of Siemens AG.
Siemens had 32,000 employees and made €7.2bn (US$8.8bn) in revenue from China last year, according to the company.