China-Africa TEDA Visits Xinhuajin to Promote Practical Cooperation

China-Africa TEDA Visits Xinhuajin to Promote Practical Cooperation
On May 26, Liu Aimin, chairman of China-Africa TEDA Investment Co., Ltd. (referred to as China-Africa TEDA), led a team to Qingdao to visit Xinhuajin Group Co., Ltd. (referred to as Xinhuajin). The two sides started with building materials and second-hand car trade to achieve In-depth discussions on cooperation issues such as interaction between domestic and foreign parks and the development of markets along the "Belt and Road.

In March this year, China-Africa TEDA visited the Shanghai Cooperation Demonstration Zone for exchange (the portal "China-Africa TEDA was invited to Qingdao Jiaozhou Shanghai Cooperation Demonstration Zone for exchange and discussion"), laying a good foundation for joint development. This time again on the island to promote pragmatic cooperation. China-Africa TEDA introduced in detail Egypt's political and economic advantages and the development of the TEDA Cooperation Zone, and focused on the automobile industry and second-hand auto parts distribution center in the TEDA Cooperation Zone.

Xinhuajin said that it is very willing to cooperate with China-Africa TEDA. It hopes that based on the strategic positioning of the Shanghai Cooperation Demonstration Zone, building materials and second-hand car trade will be used as the starting point for cooperation, and then a procurement database will be built to expand overseas business, and finally realize the promotion of production through trade. A virtuous circle of promoting trade with industry.

Both sides are full of expectations for the prospect of cooperation, and decided to take the export of second-hand cars as an opportunity to carry out specific business, combined with the positioning of the Shanghai Cooperation Demonstration Zone as a trade leader and logistics leader, based on market demand, focus on the development of trade direction, realize the interaction between domestic and foreign parks, and jointly develop markets along the "the belt and road initiative" route.

Qingdao Shanghai Cooperation Development Group Co., Ltd. (hereinafter referred to as Shanghai Cooperation Development) also attended the meeting on the same day. The relevant person in charge said that Shanghai Cooperation Development is actively expanding its overseas investment functions, and plans to jointly build a building materials platform in the above demonstration zone and the TEDA cooperation zone. The two parks are distribution centers for each other and cooperate closely. At the same time, the Shanghai Cooperation Demonstration Zone Finance Department will give relevant policy support. According to the Shanghai Cooperation Development Proposal, the cooperation is divided into three steps: first, use logistics resources to carry out second-hand automobile and building materials trade first, use specific businesses to develop the market and run in the team; Then, two-way investment in industry and commerce can be adopted to realize the interaction between the two parks. Finally, industrial investment will be realized to achieve the two-way introduction of industries between Qingdao Shanghai Cooperation Demonstration Zone and Egypt's TEDA Cooperation Zone.

At the meeting on the same day, Xinhuajin, China-Africa TEDA, and Shanghai Cooperation Development agreed to jointly draft and sign a cooperation agreement, and on this basis, seek higher-level cooperation and development, and use the expertise of the China Development Bank (referred to as China Development Bank) Advantages, accelerate the promotion of domestic and foreign dual-zone linkage and RMB international settlement matters.

Chen Ketao, Director of International Department of Qingdao Branch of CDB, Chi Yongxin, Minister of Finance and Finance of Shanghai Cooperation Demonstration Zone, Zhang Shijun, Vice Minister of Two-way Investment Department, Chen Dianxi, Executive Deputy General Manager of Shanghai Cooperation Development, Xu Xiangdong, Minister of Industry Cooperation, Yu Hao, Minister of Finance, Zhang Hang, Vice President of Xinhuajin Group, Li Guangjian, General Manager of Automobile Trading Company, Ji Xiaodong, Business Director Zhang Guangfa and relevant staff attended the meeting.

Extended reading:

Xinhuajin Group Co., Ltd. was established by Xinhuajin Group Co., Ltd. in accordance with the strategic deployment of the Shandong Provincial Government to "promote the reform and reorganization of provincial foreign trade enterprises". Established in June 2002. After that, it hosted the provincial foreign trade group. It has more than 100 directly affiliated and holding companies, and its business areas involve international trade, financial investment, star hotels, cultural collections, real estate development and international logistics industries. On September 10, 2020, the 2020 list of China's top 500 private enterprises was released, with Xinhuajin ranked 260th. At present, its second-hand car exports account for about 70% of Qingdao's total second-hand car exports.