Siemens intensifying effort in B&R projects

German industrial conglomerate Siemens AG will establish an office in Beijing for businesses related to the Belt and Road Initiative, further intensifying company-wide efforts to continue teaming up with both Chinese and global partners, according to a senior executive.

The office will become Siemens' global hub, responsible for executing the company's strategy to develop the Belt and Road Initiative, integrating internal and external resources to support the initiative, strengthening interactions with multiple stakeholders.

Cedrik Neike, a member of the managing board of Siemens AG, said the group will invite more than 800 people including politicians and business executives to Beijing this year for further developing projects generated from the Belt and Road Initiative.

"Opening the gate to the world and being an integral part of the world, we are fully supporting that," he said.

"We will invite our Chinese partners, including EPC (engineering, procurement and construction) partners, and also customers and politicians from all across the world, to come here and to build a platform to see how between Chinese EPCs and Siemens China, we can develop projects and really bring them forward," Neike said.

By 2017, Siemens had joined forces with more than 100 leading Chinese EPCs in exploring business opportunities in more than 100 markets such as Pakistan, Belarus, Egypt, Mexico, Poland and Germany.

The company aims to help Chinese companies thrive in complex market environments overseas, increase project efficiency and enter into mature markets, by providing technologies and a complete portfolio ranging from intelligent manufacturing, power generation and power transmission solutions to pioneering infrastructure and smart cities solutions.

Neike, who is responsible for Asian and Australian markets of the group, said the great thing about the initiative is that it is an inclusive project open for participation. "We are already participating and we expect more opportunities for in-depth cooperation," he said.

"The opportunities also come from China' s new round of reform and opening-up to let foreign companies play a bigger role in diversifying their businesses and partnering with local firms," said Li Gang, vice-president of the Chinese Academy of International Trade and Economic Cooperation in Beijing.

Li said as many parts of the world are still confronting cumbersome issues of trade protectionism created by the United States, many multinationals are eager to seek new business opportunities spawned by the initiative and teaming up with Chinese companies to pursue their economic goals.