China's Wanhua Chemical Group has been expanding its footprint along the Belt and Road in Europe, with market share increasing rapidly after its acquisition of Hungarian chemical producer BorsodChem in 2011, said Huo Pengtao, Wanhua's vice president.
Bela Varga, vice president of human resources and public relations for BorsodChem, said that it was through the partnership with Wanhua that BorsodChem managed to turn a profit in 2017 and keep more than 3,000 jobs.
Proposed by China, the Belt and Road Initiative refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road, aimed at building a trade and infrastructure network connecting Asia with Europe and Africa along the ancient trade routes of the Silk Road.
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2020-09-15
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