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14 | Monday, July 29, 2019 HONG KONG EDITION | CHINA DAILY BUSINESS Singapore plant lubricates expansion abroad GOING GLOBAL | Sinopec arm rides BRI, advantages of geography and price, for edge in more than 20 overseas markets By ZHENG YIRAN [email protected] “The Belt and Road Initiative pro­ posed by China promotes regional economic cooperation and coordi­ nated development, and offers new opportunities for Chinese enterpris­ es to go global,” said Gu Xin, general manager of the international department of Sinopec Lubricant Co Ltd, at a recent lubricant promo­ tion meeting in Thailand. Gu is also in charge of the compa­ ny’s subsidiary in Singapore, Sino­ pec’s first lubricant plant outside China. The plant sits in the indus­ trial park at Tuas at the southwest­ ern tip of the island. Covering an area of 242,811 square meters, the plant has an ini­ tial annual production capacity of 100,000 metric tons of lubricants, and was established to produce high­end products to meet the increasing regional demand for high­grade lubricants and grease. “We began to explore overseas markets in 2003. In 2005, the com­ A port employee transports the company’s specially designed oil for Sany Heavy Industry Co Ltd’s overseas markets. PROVIDED TO CHINA DAILY pany set up a three­step strategy of ‘explore overseas markets first, then set up overseas plants, and over 20 major lubricant promotion finally establish a global service meetings since 2015 in its target network’,” the company said in a countries such as Thailand, Indone­ statement. Singapore is a sia, Malaysia and the United Arab With a total investment of 548 logistics fortress for Emirates, attracting thousands of million yuan ($79.9 million), Sino­ Chinese and foreign clients. pec Lubricant (Singapore) Pte Ltd petrochemical More than 200 one­on­one was successfully established and products in the Asia­ exchange meetings were held with put into operation on July 11, 2013. focus on technologies, in order to Sinopec’s first overseas lubricant Pacific region. It is offer potential clients a better plant was set up in Singapore also an international understanding of the company’s because of the city­state’s geograph­ products and services. ical advantage. Singapore is known financial hub.” Up till now, Sinopec has worked as the financial capital of Southeast Li Li, energy research director at on 304 Chinese­funded projects in Asia as well as an entrepot, facilitat­ ICIS China, a think tank that more than 20 countries and ing trade between the region and focuses on energy trends regions, and successfully inked the rest of the world. It has trans­ deals with 122 clients and began parent investment policies and a supplies to them. relatively stable environment. is a logistics fortress for petrochem­ For example, it is now offering Many major oil companies in the ical products in the Asia­Pacific lubricant services to the overseas world chose to build plants in Sing­ region. It is also an international projects of many renowned compa­ apore. financial hub. In addition, there are nies, including China Communica­ In addition, in Singapore, there few language and cultural barriers tion Construction, China Railway are many refineries that produce between China and Singapore. Construction Corp Ltd, China Pow­ base oil, as well as multiple manu­ Therefore, many Chinese enterpris­ er, Sany Group and XCMG. facturing bases that make addi­ es implemented their go­global To improve its overseas service tives, fully satisfying the raw Sinopec’s first batch of lubricant products designed for Mercedes­Benz reaches dispatch stage at its strategy by establishing subsidiar­ network, Sinopec lays emphasis on material supply for lubricants. plant in Singapore, for export to India and Indonesia. PROVIDED TO CHINA DAILY ies in Singapore first.” close interactions with its clients. Sinopec’s Singapore lubricant To further explore overseas mar­ Since 2015, it has been paying track plant is helping the parent to kets, Sinopec took advantage of visits to 84 overseas and 50 domes­ expand its international business. of the production of the plant in line processes and improve opera­ marine oil business. According to opportunities brought by the Belt tic clients. More than 10,000 visits Sinopec has seven overseas busi­ Singapore reached 22 percent. It tional efficiency,” a Sinopec senior the company, compared to the and Road Initiative, particularly in have been made already. ness representative offices in Singa­ helped establish the primary inter­ executive said. domestic model, the plant in Singa­ the fields of foreign project con­ The company said that in the pore, the United Arab Emirates, national service network for the The lubricant plant in Singapore pore has a price advantage because tracting, foreign trade and foreign coming years, the lubricant plant in Thailand, Vietnam, Indonesia, company. took full advantage of the local gov­ base oil and additives can be investment. It selected several Singapore would continue to give Malaysia, and Australia. Twenty Asked about the secret of Sino­ ernment’s favorable policies. sourced locally. industries that are deeply related to full play to its geographical and market developers were sent from pec’s success in Singapore, compa­ Through active communication Apart from certain special prod­ lubricants, such as road and bridge price advantages, to improve its China to overseas, while 10 market ny executives attributed it to the with the Singaporean government, ucts that cannot be manufactured construction, electric power con­ international operations and developers were recruited locally. “international practices” the sub­ the company was granted several in Singapore, the company tries to struction, petroleum engineering, increase production. With years of efforts, the overseas sidiary adopts. There are only three favorable policies such as income produce and supply all of its over­ equipment exports and overseas In addition, the subsidiary would sales volume of Sinopec’s lubricant departments: administrative and tax incentives, employee training seas products in Singapore. It is plant construction. In considera­ learn more about lubricant­related business increased from the initial financial; production; and busi­ subsidies, special quotas for foreign estimated that by the end of this tion of local geographical factors, it products and techniques, as well as several thousand tons per year to ness. staff and property tax deductions. year, the marine oil production in worked out specific project sched­ the market trends. It would actively 30,000 tons per year, covering more “Under the premise that major These policies supported its opera­ Singapore could reach 10,000 tons. ules and assigned specific people to explore new approaches to cooper­ than 60 countries and regions risks are controllable, we (at the tions. Li Li, energy research director at complete the projects. ate with international enterprises, worldwide. parent company) fully authorized The plant also serves as a plat­ ICIS China, a think tank focusing To raise the company’s image to expand room for development The average annual growth rate the plant in Singapore to stream­ form to help Sinopec develop its on energy trends, said: “Singapore overseas, Sinopec has organized and improve brand image. Shanghai Disney Resort seeks to extend stories from ‘film to real life’ By HE WEI in Shanghai 11 million visitors and achieved ment parks, a winning recipe for atmosphere, Schott said the Shanghai facility is The Disney strategy and strength hewei@chinadaily/com.cn break­even in its very first year of Disney has always been changing, complete with the first Disneyland to launch a have always been building an all­out operations, a remarkable achieve­ for example, a roller­coaster from a vibrant Mickey mobile app at opening that can blitz of new attractions, construc­ Shanghai Disney Resort is seek­ ment across Disney’s recently­built mere track winding through air to lanterns, Chi­ show the real waiting time for each tion and new content that work ing to enable its patrons to soar to facilities worldwide. integrating the ride with stories that nese couplets, ride and incorporate functions to together to create synergy between infinity and beyond this summer. It has been rated among the top had become famous in its block­ floral garlands, help plan people’s visits. theme parks and entertainment, Woody, Slinky Dog, Buzz 10 most­visited theme parks world­ buster movies. shades of red Other endeavors to pamper Chi­ said He Jianmin, a professor of tour­ Lightyear, Bo Peep and a suite of wide by the Themed Entertainment Schott cited the example of how and gold, and nese guests include stylizing photo­ ism management at the Shanghai related enhancements, characters Association for two years consecu­ they even introduced new Disney Joe Schott, a u s p i c i o u s graphic moments and making University of Finance and Econom­ and merchandise are poised to tively. characters to Chinese guests and president and melodies. images shot at the facility fit social ics. bring a cool celebration to the park. But the real differentiator is the make Duffy and friends some of the general mana­ “ T h i n k i n g media requirements. This is best exemplified by the Toy Story Land did not even unique storytelling experience that most beloved characters in the park, ger of Shanghai about menu, For example, when Avengers: decision to build the world’s first materialize when the Shanghai park is woven into the variety of thrilling by creating tangible experiences in Disney Resort merchandise, Endgame was playing at the cine­ theme land based on Zootopia, the debuted in June 2016. But thanks to rides, gleaming complex of shops entertainment and themed mer­ entertainment mas, one restaurant in the park highest­grossing imported anima­ the fastest expansion recorded and restaurants as well as interac­ chandise and food and beverages.

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