Delegation for Attracting Overseas Investment from Trade and Industry Department of South Africa Visited Far East for Investigation and Exchange

On June 10, the delegation for attracting overseas investment from Trade and Industry Department of South Africa visited Far East for exchange. They were received by director of the Board and CEO of Far East Smarter Energy Co., Ltd. (abbreviation: Smarter Energy; stock code: 600869) Jiang Huajun, investor and COO Chen Jing, Assistant to Director of No.2 International Business Department and Director of No.2 International Cable Business Department of Far East Cable Zhou Xiaolan and other leaders.

Jiang Huajun spoke in the meeting

 In the meeting, Jiang Huajun first extended sincere greetings and warm welcome to the guests. He introduced Far East’s development, corporate culture and organizational structure, and noted that for 26 years Far East has been committed to the wire and cable industry, which has a capability to produce wires and cables with more than 20,000 different categories and specifications. Far East can produce conventional cables at the maximum voltage level of 500kV, and EHV overhead transmission lines up to voltage level of 1100kV. Desiring to become "a smarter energy expert or a smarter energy and intelligent city system service provider", Far East Smarter Energy is moving forward toward professional, high-end, integrated, and international direction. He stressed that Far East is actively building an international team, and plans to establish R & D bases, sales offices and factories in foreign countries. As a key area concerned by Far East Smarter Energy, South Africa is expected to carry out good cooperation with Far East!

Janine Fredericks introduced the economic development in South Africa

Deputy Director of South Africa Investment Promotion Division at the Trade and Industry Department of South Africa Janine Fredericks introduced South Africa’s domestic economic development, and the trade between China and South Africa. She pointed out that South Africa maintains a good trade relationship with China. Since 2009, China has become South Africa's largest trading partner, and there has been frequent business interaction between the two countries. She stressed that in the current economic situation, South Africa has developed an infrastructure investment program, particularly in speed distribution power grid, railway, and other fields that results in a growing demand for wires and cables. In order to improve the manufacturing level in South Africa, the South African government has required that the localization ratio of industrial goods, including wires and cables as well as related PE, PVC and other industrial raw materials, should reach above 90%. She said it is a honor to know Far East has considered South Africa as the subject of its planned investment, and she looks forward to seeing Far East participate in the South Africa government’s bidding and tendering business that is related to wire and cable business. She hopes Far East to invest in South Africa! 

Mokgadi Matlala introduced the preferential investment policies in South Africa

Chen Jing exchanged with the delegation members

Economic, trade and investment official of Consulate General of the Republic of South Africa in Shanghai Ni Wenxiang spoke in the meeting

Jiang Huajun and Chen Jing exchanged with the delegation on the basic situation in South Africa, investment policies, demand for wires and cables and other related issues, with the focus on new energy vehicles and power batteries.

The on-site of the meeting

The delegation also visited Smarter Energy Smarter Medium Voltage Cable Plant, Marine Development Cable Factory and Smarter Energy Science and Technology Museum.

A group photo