Three Fortune 500 firms in visiting China delegation

Thursday, 26 September 2013 00:00 -     - {{hitsCtrl.values.hits}}

  • One of the strongest Chinese private biz teams to arrive
  • “Time to move in B2B levels too”: Rishad
The latest Chinese business delegation to arrive in Colombo led by a top Chinese trade official has three Fortune 500 companies with them. “China is an important step in our export market diversification and today we warmly welcome one of the strongest delegations to visit us from China,” said Minister of Industry and Commerce Rishad Bathiudeen, welcoming the Chinese business delegation on 25 September. Minister Bathiudeen was discussing with his officials of the arrangements and relevant schedule for the 36-member strong trade, business and investment delegation to arrive from China to Sri Lanka led by Jia Guoyong, the Vice Director General of Chinese Trade Development Bureau (TDB) yesterday in Colombo. “This is one of the strongest such Chinese delegations to arrive in recent trade history. We have an opportunity for Lanka-China B2B too,” Minister Bathiudeen stressed. The 36-member strong Chinese delegation consists of unprecedented Chinese private sector representation with 23 companies taking part from the sectors of glass manufacture, mining/minerals, agriculture, polymer/petroleum by-products, chemicals and real estate. Three of the firms are in the Fortune 500 list – Sinochem Group ($ 49.5 b revenue), China Minmetals ($ 37.5 b) and Sinosteel ($ 27.2 b). Among other visiting firms are Anhui Light Industries International Co. Ltd. (ALIC), Zibo Top  Arts, Zibo Honghan Trading, Shandong Hanbang Household Glassware, Zibo Unishine, XinHe Commerce and Trade Refco Group, Hebel Kaifa Glassware, AVIC International Holding, CITIC International, Chinatex, China National Township, Sinosteel Raw Materials, Sinochem Guangdong, and Sinochem Plastics. According to the Department of Commerce of Sri Lanka, the total trade turnover between Sri Lanka and China which stood at US$ 658.94 m in 2005 has increased to US$ 2,676.13 m in 2012. Sri Lanka’s main export item to China is coir.