Taiyuan railway equipment firm expects Q4 export rebound

Taiyuan Heavy Industry Railway Transit Equipment Co Ltd, located in North China's Shanxi province, is expecting an export rebound in the fourth quarter after the company saw a sales decline in the overseas market due to the novel coronavirus pandemic, according to an official.

"We have rolled out a series of measures to maintain a good relationship with our overseas partners, including donating medical supplies like masks and sharing our experience in avoiding infections in the workplace. As the pandemic has been gradually contained in certain countries, we are expecting a sales rebound in our overseas market," said Liu Yaoping, deputy-general manager of Taiyuan Heavy Industry Railway Transit Equipment.

According to Liu, Taiyuan Heavy Industry Railway Transit Equipment has completed overseas deals worth 510 million yuan ($72.7 million) in the first half of this year, thanks to its measures to make up for pandemic losses. "There might be a greater rebound in the number of overseas deals in the fourth quarter this year, considering that many project bids happened at that time," Liu said.

As a major unit of China's leading manufacturing company Taiyuan Heavy Industry Co Ltd, Taiyuan Heavy Industry Railway Transit Equipment has been stepping up efforts to develop the overseas market. Last year, Taiyuan Heavy Industry Railway Transit Equipment exported 56 percent of its products, worth over 1 billion yuan, to its overseas markets including North American countries, European countries, India, and Southeast Asian countries, according to the company.