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Tan Xuguang Invited to Participate in the St. Petersburg International Economic Forum

2019.06.08

At 14:30 on June 7, 2019, the 23rd St. Petersburg International Economic Forum was held. Chinese President Xi Jinping and Russian President Putin attended the Forum. With the deepening of Sino-Russian relations, China has become an important participant in Russia's most important international economic forum. As an important force in Sino-Russian bilateral economic cooperation, Tan Xuguang, chairman of Weichai Group, was invited to participate in the forum.

 

Grand open of the 23rd St. Petersburg International Economic Forum 

  Tan Xuguang was invited to participate in the St. Petersburg International Economic Forum.

Weichai is the pioneer of China's “Belt and Road” initiative. As of now, Weichai has basically completed the global industrial layout, with 40% of its revenue coming from overseas business. Among them, the vast Russian market is one of the important strategic markets of Weichai. Weichai not only expands the local distribution of sales and service channels, but also further promotes local joint ventures.

 

 Chinese and Russian heads of state witnessed the strategic cooperation between Weichai and KAMAZ Group.

On September 11, 2018, witnessed by the heads of state of China and Russia, Weichai and Kamaz Group reached a strategic cooperation to jointly produce engines that meet Russian emission standards. On May 14, 2019, the two sides announced the official launch of the project in Beijing. The two sides will work together to create a new model of mutual benefit and win-win for the “Belt and Road”.

Kamaz Group is Russia's largest producer of heavy trucks and buses, with a 50-year history of heavy-duty vehicle manufacturing and an annual production volume of more than 40,000 units. After more than 70 years of development, Weichai has its own gold industry chain resources including heavy trucks, engines, gearboxes and axles. In the early stage, the two sides signed a strategic cooperation agreement. In addition to planning to form Kamaz-Weichai JV in the Yaroslavl Oblast Free Trade Zone to engage in the production and sales of industrial diesel and gas engines. The two sides also plan to further seek cooperation in the area of gearboxes, axles, etc.

 

 

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