President Xi's speech in the opening ceremony of the third China International Import Expo, sparks waves of comments among Guangzhou entrepreneurs. King Cheung, Chairman of the Board of Cedar Holdings, when interviewd by reporters, said that the speech showed the world China' s determination to stick to opening-up while building a new development landscape, and gave private companies confidence in grasping the opportunieis presented by this new move.
Commodities is strategically important to dual circulation development pattern. In the extremely complicated economic situations of this year, on the one hand, Cedar Holdings has integrated resources upon the upstream and downstream of the industrial chain for a steady and safe supply of commodiities to thusands of corporations. On the other hand, Cedar Holdings has enhanced horizontal and vertical development, contributing to the circulation in both the domestic and international market.
A typical example is Cedar's buyout of Stemcor, the UK-based internaional steel giant. In spite of the serious impact caused by the COVID-19 epidemic, Stemcor's steel exports to China has defied the shrinking world economy to more than double in 2020, which diversifies the means of international circulation of China's steel industry.
King Cheung promised that Cedar would make full use of the domestic and international market, consolidate its global commodities supply chain and international network, contribute to the stability of industrial and supply chain as well as the dual circulation development pattern.