China & Its Improved International Relations
“Economic opportunities appear to be on the rise for WFOE’s in China as economic policy pivots.”
Recent actions by the Chinese government imply that they are making some pivots in aspirations for the country. Whether it is the recent investment in renewable energy or the increase in foreign investment. Economic opportunities appear to be on the rise for Wholly Foreign Owned Enterprises (WFOEs) in China as economic policy pivots.
Chinese Foreign Minister Wang Yi recently visited Madagascar to discuss collaboration on the construction of the Silk Road Economic Belt and the 21st Century Maritime Silk Road (the Belt and Road Initiative) with President Hery Rajaonarimampianina. China’s Belt and Road Initiative hopes to enter Africa through Madagascar, Rajaonarimampianina said, adding that the country is ready to actively take part in the Belt and Road construction and deepen cooperation with China in agriculture, fishery, tourism and other areas under the framework of the Belt and Road Initiative.
China’s active role of collaboration with foreign countries is being reciprocated for those looking to do business in China. The Belt and Road Initiative, proposed by China in 2013, aims to build a trade and infrastructure network connecting Asia with Europe and Africa along the ancient Silk Road trade routes. It has won support from over 100 countries and international organizations.
This receptiveness of foreigners doing business in China is not limited to the African population successfully doing business in South China, but also foreigners from Europe.
China recently opened a rail connecting China and Europe, a freight train carrying 700 tonnes departed from Yiwu, Zhejiang Province, on New Year’s Day and will pass through Kazakhstan, Russia and Europe before finally arriving in Great Britain’s capital. The journey will take a total of 18 days.
Officials in both countries hope the route will promote trade ties and foreign investment between the two countries by delivering the goods twice as fast and for half the price of the sea route.[/vc_column_text][/vc_column][/vc_row]