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Company News About The Belt and Road promotes globalization

The Belt and Road promotes globalization

2024-10-01
The Belt and Road promotes globalization

The trend of low-voltage electrical appliance industry is boosted by the Belt and Road Initiative, which drives globalization.

 

The fundamental strategy of China's "Belt and Road" initiative is to promote Chinese output of capacity and capital, therefore, the policy and financial support will be beneficial for the countries along the route to accelerate the construction of power grid, and at the same time open up a broad market for Chinese export of power equipment. Domestic power grid construction and power equipment enterprises will benefit significantly. The power infrastructure of many developing countries in Southeast Asia, South Asia, West Asia, Africa, and Latin America is relatively backward, and with the economic development and rising electricity consumption, there is an urgent need to accelerate the construction of power grid. Meanwhile, the local equipment enterprises in developing countries have outdated technology and high dependence on imports, and there is no local protectionism tendency. Therefore, Chinese enterprises will accelerate their globalization pace by taking advantage of the spillover effects of the Belt and Road Initiative.

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