Listed companies are expected to see profits grow this year as the Belt and Road Initiative advances steadily, Shanghai Securities News quoted analysts as saying.
Companies in the infrastructure construction and energy sectors are among the first group of listed companies to benefit from the Belt and Road Initiative this year, said He Xin, analyst with Huatai Securities.
Boosted by rising demand for power equipment along the Belt and Road, energy equipment producer Tebian Electric Apparatus Stock Co(TBEA) made breakthroughs in its international business last year with newly signed overseas orders totaling more than $3 billion, said He.
Additionally, companies in the infrastructure construction sector are also expected to increase profits this year as regional connectivity was highlighted as part of the Belt and Road Initiative, according to Haitong Securities.
A trans-continental cargo link connecting eastern and central Asia with Europe, known as the "China Railway Express," has raised interest among companies that want to transport Chinese products to Europe while tapping markets along the Belt and Road routes, and freight volume has increased substantially.
The Belt and Road Initiative was proposed by China in 2013 in the hope of creating a trade and infrastructure network to connect Asia with Europe and Africa along ancient trade routes.
The Belt and Road Initiative has won support from over 100 countries and international organizations, with nearly 50 cooperation agreements signed between governments, said He Lifeng, head of the National Development and Reform Commission, at a press conference on the sidelines of the annual parliamentary session.
To further strengthen cooperation, China will host a high-level forum on the Belt and Road Initiative in Beijing in May.