Panjin touted as China’s next booming city on the Silk Road Economic Belt

posted on 17th November 2017 by Jordan Newton
Panjin touted as China's next booming city on the Silk Road Economic Belt

Panjin, a coastal city in the rustic belt of northeast China, has flourished as a booming industrial port as a result of the Belt and Road Initiative and broader international cooperation.

Situated on the Liaodong Bay of the Bohai Gulf, Panjin is a key terminal on all three trade routes linking northeastern China with Europe via Mongolia, Russia and the Arctic separately.

With Panjin Port at the core, a transportation network comprising high-speed railways and expressways distribute goods to six surrounding cities with an aggregate population of 20 million within one hour.

The port also provides northeastern China and Inner Mongolia the closest access to the sea.

The Panjin Municipal Government formed a plan to turn Panjin into a moderately developed city with international competence.

In February, 11 local enterprises went abroad to explore cooperation along the Silk Road Economic Belt and the 21st Century Maritime Silk Road. More than 500 officials and corporate executives from Germany and China attended the 2017 International Beer Festival in September.

In mid-October, Panjin became the first city in northeast China to join the Sino-German Industrial City Alliance, a platform to facilitate the implementation of the strategies of Made in China 2025 and German Industry 4.0.

Compared to the other Chinese members of the alliance, Panjin enjoys a distinctive geographic advantage and takes lead in a set of domestic reforms from business environment optimization to new energy vehicles.

A number of European enterprises including Leoni Group, Clariant and Dynasol have established joint ventures there. The city is also in talks with BASF, Evonik, Oiltanking and Steinbeis for more cooperation.

Panjin Vocational and Technical College has even partnered with a German institution to co-develop the disciplines of chemical, elderly care and machine electricity so as to train more technicians qualified for German-invested companies.

In the future, a world-leading petrochemical and fine chemical industrial base and a special equipment manufacturing base will be built there. European enterprises specialized in the production of ethylene and its down stream products, functional polymer, high-tech materials and pharmaceutical intermediates are particularly welcomed, according to the Publicity Office of Panjin Municipal Government.

As automated and intelligent manufacturing is among the top agenda of the city’s industrial restructuring, the city is seeking to broaden cooperation with high-end petroleum equipment manufacturers and high-tech companies with growth potential overseas.