On the morning of February 20th, the project of investing 2 billion yuan and annually producing 100,000 tons of steel cord broke ground at Huaqin Rubber Industry Group. “Without a series of good policies to stimulate economic growth in our province, Italy’s Pirelli Group will not increase investment. This 2 billion yuan project cannot be started so quickly,†said Niu Yishun, chairman of China Qinqin Group.
Huaqin Group is a large-scale private enterprise in Zhangzhou. It has a long history of cooperation with the world's top 500 companies, the Italian Pirelli Group. In 2005, Hiqin Group and Pirelli Group “favored one at a timeâ€, and the two sides jointly invested nearly RMB 900 million to build the world’s most advanced truck tire production line. Cooperation has achieved a win-win situation. Pirelli senior leaders made verbal promises: “As long as new projects in Asia are preferred, cooperation with Huaqin Group is preferred.†In 2007, Pirelli Group fulfilled its commitments and once again cooperated with Huachen, investing 1.2 billion yuan in both sides. The world-class high-end car tire project. At the same time, the two sides agreed to invest a further 2 billion yuan to launch the steel cord project, making Hua Qin Group the main raw material production base for tires.
However, a financial crisis that engulfed the world came across unexpectedly. Earlier this year, taking into account factors such as the shrinking market demand, Pirelli Group decided to tighten the frontline, and no longer expand investment in all parts of the world. The steel cord project was told to “hold offâ€. Just at this time, our province introduced a series of measures to expand domestic demand and promote development. After comparing the accounts of Huaqin Group, we found that this time should be the best time for the steel cord project: the value-added tax reform and export tax rebate rate adjustment will reduce the cost by more than 240 million yuan, and steel prices will reduce infrastructure costs by 20%. The provincial government's "New Deal" created a good opportunity for the new project. Cataneo (Catanho), general manager of Pirelli Tire Co., Ltd. from Italy, said: "These are substantial 'good things' and allow us to have confidence in investing in China and decided to immediately start this big project of 2 billion yuan."
A stone provokes a thousand waves. The United States Goodyear Group, one of the world’s top 500 companies, has also been “impulsive†for many good policies and decided to once again cooperate with Huaqin Group and immediately invest RMB 1 billion in launching high-grade wire ropes to build Asia’s largest raw material for conveyor belts. On the morning of the 20th, construction started.
"Although the situation is difficult, as long as it responds to good and policy, the prominent contradictions in economic operations can be resolved," said Jiang Cheng, deputy mayor of Jining City and party secretary of Ganzhou City.
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