OECD Business and Finance Outlook 2018 by OECD

Author:OECD
Language: eng
Format: epub
Tags: Finance and Investment
Publisher: OECD Publishing
Published: 2018-09-02T16:00:00+00:00

Relocation of low-technology industries abroad

Following general global patterns to shift low-technology abroad, the iron, steel and cement industries are being moved to provinces in the west of China and to the BRI-participating economies. The Premier of China, Li Keqiang, explicitly highlighted this objective in his remarks to the 17th ASEAN conference: “After years of development, China now has a strong capacity in infrastructure development and Chinese equipment is of high quality. We encourage competitive Chinese producers of iron and steel, cement and plate glass, etc. to shift their operation to ASEAN countries to meet the local need of infrastructure development through investment, leasing and loan lending so as to achieve mutual benefit” (Li Keqiang, 2014).

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