19.3 C
Bucharest
June 18, 2021
BUSINESS

Romania, China’s forth largest trade partner in Europe

There are over 9,000 Chinese investors in this country.

The volume of bilateral trade with China rose above USD 3.7 bn last year, HotNews.ro reports, making Romania China’s forth most important trade partner in the European area, according to Guo Jiangbing, Deputy Director General in the Chinese Ministry of Industry and Information Technology and head of a Chinese delegation in Romania. The Chinese official made the statement at an economic forum on IT&C themes that began yesterday in Bucharest, attended by government authorities and representatives of some of the biggest companies from China.

‘The exchange and co-operation at a variety of levels in industry have sustained an ingoing growth. There are over 9,000 Chinese companies that have invested in Romania. Co-operation has also grown in the technical and scientific area, as well as telecom and IT. All that laid down an optimal base for broadening co-operation in many areas in the IT&C industry’, Jiangbing also said, according to Money.ro.

Attending the event, Liu Zengwen, the Ambassador of the People’s Republic of China in Bucharest (photo), noted that, ever since 2004, the governments of the two countries had been signing memoranda of co-operation in the IT&C area. Moreover, a memorandum was also signed with Minister Valerian Vreme in January this year. The Chinese official said the co-operation had not passed without results, HotNews.ro informs.

In addition, telecommunications companies ZTE and Huawei have never stopped enlarging their respective market shares in Romania, becoming two of some of the most prominent goods suppliers for the industry, the Chinese ambassador further said.

IT&C market in China: 3 M employees and CNY 1.33 tr in 2010

The members of the Chinese delegation made presentations of the situation of the software industry in China. According to Gong Xiaofeng, Executive Vice-President of the Department for Electronic and IT Industry in China, the local IT&C industry in 2010 had a weight of 1 per cent in the country’s GDP.

‘The revenue of the IT&C industry in China exceeded CNY 1.33 tr in 2010, with over 3 M employees. The share of the sector in the Chinese GDP went up from 0.3 per cent in 2001 to 1 per cent in 2010’, he said.

Another Chinese official, Zhou Ming, Deputy CEO of Infotech Pacific Ventures Co. LTD, also presented the situation of foreign investment in China. According to him, by the end lf May last year, the volume of FDI had gone above USD 1 tr. The IT service suppliers market in China by revenue is currently dominated by Chinese companies which hold a combined market share of over 74 per cent, followed by IBM – 8.2 per cent, HP – 6.5 per cent and other small joint ventures.

Moreover, the Huawei Technologies official noted that, on the Romanian market, his company worked with Vodafone and RCS&RDS and that it plans to reach a total of 800 employees in the upcoming period. Globally, Huawei has over 110,000 employees and over 100 subsidiaries around the world. According to him, over 70 per cent of the total revenue of Huawei Technologies is sourced from outside China.

Another Chinese telecom equipment supplier, ZTE, attended those first stalks. Lorian Ovidiu Vintila, Operations and Strategies Director of ZTE Romania noted that his company had partnerships with all major mobile and landline telephony operators in Romania, being a significant investor. The ZTE subsidiary in Romania opened in 2002 and currently has 150 employees, Vintila said.

Romania was represented at the event by Communications Minister Valerian Vreme, Liviu Dragan, Vice-President of the Employers’ Organisation of the Software and Services Industry (ANIS), Doina Banciu, Director General of the National Institute for Research and Development in Informatics (ICI) and representatives of various local IT&C companies. Apart from official talks, the Chinese delegation will also make a few visits to a selection of Romanian companies.

Related posts

Fenechiu accuses Boagiu of inefficiency

Nine O' Clock

Family physicians will no longer grant free consultations

Nine O' Clock

Vodafone research reveals number of large scale Internet of Things (IoT) projects doubled in the last year

Nine O' Clock