November 30, the 8th International Capital Conference(ICC) was held in Beijing. HBIS CCP Chairman and group Chairman Yu Yong was invited to attend the opening ceremony. As a VIP guest, together with Mr.Long Yongtu, Co-Chairman ICC, Former Vice Minister of Commerce,China, Former Secretary General,Boao Forum for Asia,Mr.Jean Pierre Raffarin, Co-Chairman,ICC, Former Prime Minister of France,Honorary Member of Parliament Chairman, Fondation Prospective et Innovation and Mr.Dick Sluimers, Extraordinary State Councillor for the Council of State, Netherlands, Former Chairman & CEO of APG, Mr.Yu Yong had discussions. Yu Yong said that the One Belt & One Road Initiative is giving new opportunities and new models to the cooperation between China and European countries. HBIS is full of hope and believes that the company will strengthen its overseas development in its investment projects in Europe and building one of the most competitive steel mills.
Mr.Long Yongtu hosted the forum and more than 200 guests from Renowned Chinese Enterprises, CEO and executives of EU Leading Corporation also attended the forum.
Yu Yong highly valued the European investment environment under the One Belt & One Road Initiative. He said that the HBIS projects in Switzerland, Serbia and other European country has been operating very well and we were welcomed the local authorities and employees. In the process, HBIS has a feeling that Europe is open to Chinese Enterprises and Europe has excellent and fair business order and environment. We are grateful for the the great help from local European authorities and enterprises.
For the future of China & European cooperation under the Belt & Road Initiative, Yu Yong expressed that the Chinese steel industry will improve from the current status of a low cost product supplier, instead, it will be more of a capital investor, technology exporter and management provider.The cooperation between China and Europe will have a new development opportunity and business model that will enhance the development of European steel industry and keep the job opportunities for local employees. It also will help the Chinese Manufacturing industry, the Chinese steel industry, including HBIS to strengthen is internationalization efforts.
Yu Yong introduced that the Serbian Smederevo Steel mill HBIS purchased last year had been call the typical cooperation model between China and Mid-European Countries under the Belt & Road Initiative. Before the M&A, the steel mill had been making a loss for seven years due to lack of funding and investment. After taking over, HBIS upgraded its equipment technologies and products. More importantly, HBIS mobilized its supply chain, globalized client platform and the world’s largest trading platform-- the Swiss Duferco to turn Smederevo to a globalized steel mill from a localized company. This year, the operation of Smederevo steel has been stable and making a profit. HBIS is giving a new life to the steel industry of Serbia, which the nation has been proud of and offering fine job opportunities to more than 5000 local employees. The HBIS case in Serbia could be of a new model of cooperation between China and European enterprises, outsourcing Chinese technologies and management on the bases of capital investments.
Finally, Yu Yong said under the Belt & Road Initiative, the cooperation between China and Europe is mutually beneficial. Europe needs Chinese capital and Chinese technologies. The Chinese manufacturing industry also needs the commercial environment and high quality clients. In the future, HBIS has high expectations to the China & European cooperation and has the confidence to invest in Europe. The company will taking opportunities the Belt & Road Initiative offering and strengthen its steps of internationalization and build one of most competitive steel mills in the world.
ICC is a world’s leading EU & China Forum of commerce and is the largest global oversea investment forum based in China.