Largest state-owned Chinese firm to establish Eurasian HQ in Istanbul

Published 18.04.2017 23:15

Chinese PoweChina has announced that it will establish its Eurasia headquarters in Istanbul.

Speaking to reporters, the vice president of the firm's Eurasia headquarters, Dong Juntao, explained that PoweChina operates in various fields that include planning, research, design consultancy, construction, hydropower, installation and manufacturing services, thermal energy, new energy and infrastructure.

Juntao said that the firm, which is the largest state-owned enterprise in China, headquartered in Beijing, is continuing to grow in sectors such as real estate, investment, finance and operations, and maintenance services.

Pointing out that PoweChina's overseas business structure was significantly redesigned last year, Juntao noted that six regional directorates have been planned in all of Africa, the Middle East, Eurasia, Asia, the Pacific and the United States.

Additionally, the company has more than 259 branches in 103 countries around the world to manage its overseas connections regionally.

Stressing that regional centers can move faster to improve the firm's process of localization and globalization together with this management system, Juntao said that PowerChina Eurasia, located among these six regional directorates, is responsible for 63 countries, including South Asia, Central Asia, the Caucasus, the Commonwealth countries and all European countries.Meanwhile, he explained that they had decided to establish PoweChina's Eurasia headquarters in Istanbul.

Turkey to affect development of global economyJuntao said that Turkey is a very important economic and commercial partner for China with its advantageous geographical position for development, good economic foundation and development potential.

"When we decided to establish the PowerChina Eurasia headquarters in Istanbul, not only the geographical advantages, but also the city's position as a great potential market and business opportunities related to Turkey's development and infrastructure facilities were effective," he said.

Stating that Turkey and China have established ties thanks to the old Silk Road and are connected with the motto of "One Belt, One Road," Juntao underlined that as an important knot of the new Silk Road and as the trade route of the Eurasian continent, Turkey will, of course, play an important role in the development of the global economy. He also added that PoweChina hopes to expand and strengthen its business with its head office in Istanbul and also contribute to the economic relations between Turkey and China. "We were always looking for a good opportunity for social development and the Chinese-Turkish cooperation in a variety of ways, including direct or indirect investment methods, and the Turkish government, which was seeking potential investors, was helping us," he said, stressing that PoweChina holds strong relations with banks and financial institutions around the world.

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