Guizhou's State-owned enterprises go global

State-owned enterprises (SOEs) in Southwest China's Guizhou province are seeking to go global.

By increasing the technology and added value of products, Guizhou's SOEs aim to fully tap into the growth potential of foreign trade.

At the beginning of this year, Guizhou Guitianxia Tea Industry Group Ltd exported its first batch of tea of 2023. The 50 metric tons of tea worth 1.77 million yuan ($256,738.34) were first sent to Shenzhen Port and then exported to Morocco by sea.

From Feb 6 to 11, the group brought its most competitive products to the 30th International Exhibition for Food, Beverages and Food Raw Materials in Moscow.

In the future, the group will continue to attend international expos and strive to expand its tea export, according to Bai Jinlong, director of the group.

Guizhou Guitianxia Tea Industry Group Ltd attends the 30th International Exhibition for Food, Beverages and Food Raw Materials in Moscow. [Photo provided by Guizhou Guitianxia Tea Industry Group Ltd]

Guiyang Steel Mills I/E Corp is the largest research and production base of rock drilling steel tools in China. In 2022, the corporation's overseas market sales reached 44.81 million yuan, up 34 percent year-on-year.

This year, the corporation will continue to create new products and rely on the development of international markets as a long-term strategy for high-quality development, targeting more than 80 million yuan in overseas market sales, according to Ren Guanghai, general manager of the corporation.

Guizhou Phosphate Chemical Group's production workshop of phosphate fertilizer [Photo provided by Guizhou Phosphate Chemical Group]

Guizhou Phosphate Chemical Group is also taking the opportunity brought about by the Belt and Road Initiative and Regional Comprehensive Economic Partnership (RCEP) to promote the international trade of phosphorus and phosphorus chemical products.

In 2022, the group's export value amounted to $1.12 billion, with an export volume of 1.75 million tons. The trade value with RCEP members was about $816 million, up 10.27 percent year-on-year.

In the future, Guizhou's SOEs will give full play to their advantages to launch a number of competitive foreign trade products and help Guizhou integrate into the dual circulation development model, in which the domestic economic cycle plays a leading role while the international economic cycle plays a supplementary role.