FROM EIR DAILY ALERT

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Siemens Establishing a Belt and Road Headquarters in Beijing

March 24, 2018 (EIRNS)—The German industrial and engineering group Siemens will set up an office in Beijing to boost international cooperation under China’s Belt and Road Initiative, the company said on March 23. The move will help intensify Siemens’ cooperation with Chinese and international companies and expand business opportunities beyond cooperation the company already has with China.

Siemens said it had already partnered with hundreds of Chinese companies in overseas projects and could help them adapt to and expand business in Belt and Road countries in sectors such as power, oil and gas, chemicals, mining and building materials. The company will also hold an international forum on the Belt and Road Initiative in June.

“We are fully committed to promoting the Belt and Road Initiative,” said Cedrik Neike, managing board member of Siemens AG. As of last year, Siemens had 32,000 employees in China and made €7.2 billion ($8.8 billion) in revenue from China, according to the company.