Officials of The China-Africa Economic and Trade Promotion Council and Department of Commerce of Hunan Province visited Songuo
Xu Xiangping, former counselor of the Hunan Provincial Government, director of the Commerce Department, and current president of the China-Africa Economic and Trade Promotion Council, Liu Suyue, member of the Party Group of the Hunan Provincial Department of Commerce and deputy director, Ye Wenlin, director of the Investment Promotion Department of the Hunan Provincial Department of Commerce, Wang Dahui, director of the Economic Cooperation Bureau of Liuyang Economic Development Zone Management Committee, and Wu Hao, member of the Party Group of Changsha County Government and deputy county head, visited Songuo on July 9, to discuss the China-Africa economic and trade cooperation on new energy vehicles. Liu Zheng, deputy general manager of Zhongting Holdings Group accompanied the event.
China has been Africa's largest trading partner for 13 consecutive years. Africa is also one of the major markets for Songuo. One taxi and four tricycles models have been registered and put into operation in local regions, and orders for various products to be exported have been signed. However, African countries generally face issues such as lack of foreign exchange reserves and insufficient payment capacity. A large number of exports have difficulties in settling payments through traditional methods like letters of credit, and products traded through barter need suitable channels for sales in order to promptly recover payments. Leveraging the strengths of all parties and going out to sea collectively is an important way for unimpeded connection in African business.
The China-Africa Economic and Trade Expo is permanently stationed in Changsha City, capital of Hunan Province. Hunan has been designated as a platform for China-Africa economic and trade promotion and is also one of the most active provinces in China-Africa economic and trade cooperation. During the visit, the group looked through Songuo's main export products, listened to relevant introductions, and held in-depth discussions. They indicated that Hunan has a profound foundation, experience, and special policies in non-economic and trade areas. Zhongting Holding Group has advantages in mineral resource development and imports, while Songuo developed vehicle products suitable for the African market. They support Songuo and Zhongting in exploring various models including barter trade or exchanging products and industries for resources to expand economic and trade relations in Africa. By leveraging complementary advantages, they aim to overcome business obstacles and achieve accelerated export of new energy vehicles to Africa regions.
