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China Petrochemical Corporation's first lubricant plant outside China - Sinopec Lubricant (Singapore) Pte Ltd - has continued its rapid growth and expansion by increasing business with Chinese companies overseas, according to one of the company's senior executives.
China Gateway, as the program is called, will offer cloud services, flexible work spaces and access to the local community and business ecosystem for international firms, the two companies said.
China National Machine Tool Corp is responsible for soliciting exhibitors for the high-end and intelligent equipment show area. Liang Feng, the corporation's president, said during the meeting on Wednesday that the total exhibition area for such equipment would cover 33,000 square meters, accommodating more than 160 overseas companies. Eight of the world's top 10 machine tool companies, as well as all the world's top five cutter manufacturers, will take part in the first CIIE.
China added a total of .12 billion of non-financial ODI into countries participating in the Belt and Road Initiative, up 19.4 percent year on year. Investment in member states of the Association of Southeast Asian Nations (ASEAN) also saw stellar growth of 53.1 percent to .23 billion.
China achieved year-on-year GDP growth of 6.9 percent in the first three quarters, while industrial output grew at 6.7 percent, up from 6 percent a year ago.
