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Title: LESSO Enters the Blue Ocean Southeast Asian Market with a Localized Strategy, Accelerating its Overseas Development Under the “Belt and Road” Initiative

China, 24th Nov 2023 - On October 18th, the Third Belt and Road Forum for International Cooperation was held in Beijing. Since the inception of the 'Belt and Road' initiative in 2013, Chinese companies have rapidly expanded overseas, capitalizing on this opportunity to drive global economic growth over the past decade. During this period, trade between China and 'Belt and Road' countries reached $19.1 trillion, with an average annual growth rate of 6.4%. Southeast Asia, in particular, has emerged as a key destination for corporate investments. Amidst the vast market opportunities, there is a growing concern about the participation methods and effectiveness of Chinese enterprises.  Benefiting from the 'Belt and Road' Initiative, China's infrastructure business is venturing abroad.Thanks to the 'Belt and Road' initiative, China's infrastructure exports and co-operation has made significant progress over the past decade. According to data from the Ministry of Commerce, from 2013 to 2022, the newly signed contract value for Chinese projects in 'Belt and Road' countries increased from $71.5 billion to $129.6 billion. In the first eight months of 2023, Chinese enterprises have signed new construction contracts worth 725.35 billion yuan with participating 'Belt and Road' countries, marking a year-on-year increase of 5.6% and maintaining robust growth in infrastructure cooperation.The surge in infrastructure investment has fueled demand for overseas machinery, construction materials, and architectural decorations, injecting fresh growth momentum into Chinese enterprises. According to a report from the Zhejiang Merchants Securities Research Institute, building materials companies have seen a remarkable growth rate of 46% and 25% in their overseas business. With the ong...

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