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Hu: Stick to 'go overseas' strategy

By Li Xing and Jiang Wei (chinadaily.com.cn)
Updated: 2009-02-19 00:49

RIYADH: President Hu Jintao Wednesday encouraged Chinese firms to continue expanding in overseas markets despite the financial crisis.

Chinese firms with capabilities "should stick to the 'go-overseas' strategy and intensify international cooperation", he said.

He was speaking during a visit to a plant being built by Chinese firm Sinoma International.

Wang Wei, president of Sinoma, said business had slowed down over the past few months but started to pick up again this month.

Construction of the plant began in March 2005. Its first phase has started production and now has a daily capacity of 5,000 tons, Naseer Uddin Siddiqui, plant director and assistant general project manager, told China Daily.

"Our plant employs the latest Chinese and Western technologies, with more than 90 percent of the equipment coming from China," he said.

Having worked with Chinese for several years, he said he was very impressed with workers from the country.