Business news

MINSK, 26 September (BelTA) – The Belarusian Economy Ministry and the Chinese company Jiangsu SOHO Holdings Group have signed a memorandum of cooperation. The document was signed as Belarusian Economy Minister Dmitry Krutoi met with Wang Zhengxi, Chairman of the Board of the Chinese holding company, BelTA has learned.

The memorandum of cooperation is designed to increase and diversify export and import shipments. It will also allow tapping into resources of the Belt and Road initiative fund in order to finance projects in Belarus.

Jiangsu SOHO Holdings Group is the largest state-run company in China’s Jiangsu Province. The company reports to the province administration. The company employs about 8,000 people. The charter capital is close to $433 million, the annual revenue exceeds $2.3 billion. The value of the assets is close to $4.5 billion. The Jiangsu Province administration has put the company in charge of selecting and implementing investment projects using money of the investment fund, which was established in December 2015 to implement the Belt and Road initiative.