China: The cabinet said domestic companies may seek chances for industrial and equipment manufacturing cooperation through a range of measures, including investment, projects contracting, and technological cooperation, according to Xinhua China. Benefits are more than mutual, as it gives China the chance to better its industrial prowess through upgrades and improve its international competence. The Chinese government sees industrial cooperation with other countries as one of the nation most important agendas, with the cabinet issuing a policy guideline on Wednesday to encourage competent domestic sectors, including railways, electric power, telecommunications, construction and machinery to expand overseas. Such cooperative projects also boost employment and economic vitality in other countries. Diao Chunhe, chairman of the China International Contractors Association, said project contractors are embracing huge business opportunities in infrastructure cooperation, particularly in countries along the Belt and Road, China initiative to enhance international connections through building regional transport networks. The world economy as a whole will also benefit from industrial and equipment manufacturing cooperation among nations, the Chinese cabinet said.
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