Hallsmart leads investment in 'One Belt, One Road' plan

An innovative local electrical company is aiming high by investing in the "One Belt and One Road" project, hoping to expand its own overseas markets.

Located in Zhanjiang in the western coast of Guangdong province, the pioneering province of China's opening-up and reform, Hallsmart Electrical Appliance Co, led four other companies to raise funds of 2 billion yuan ($322 million) to invest in markets along the 21st Century Maritime Silk Road.

The 21st Century Maritime Silk Road and the Silk Road Economic Belt are initiatives put forward by President Xi Jinping when presiding over the eighth meeting of the Central Leading Group on Financial and Economic Affairs in November.

It is believed the One Belt and One Road plan will benefit all communities along the route through Asia to Europe.

Hallsmart Electrical Appliance is raising a development fund to invest in coastal ports, shipping and infrastructure, and local resource development.

The enterprise located in tropical surrounds is a joint-venture trading and commercial establishment.

In recent years, it has exported lights and household appliances to the United Kingdom, Western Europe, the United States, Canada, South America, Australia and other Asian countries.

Innovation is currently the main goal of the company, said Song Yayang, the company president. Each year, the company puts about 20 new products onto the market.

In 2003, Hallsmart registered its own trademark in the US, Europe and some other Asian countries, laying the foundation for its overall brand building.

China, Japan and South Korea are the main manufacturers of yearly sales of 218 million rice cookers around the world. China produces 200 million units, half of which come from Zhanjiang, earning a profit of $80 million.

For 2015, 10 of the 20 new products on the market will be high-end models.

Every month, Hallsmart uses more than three metric tons of rice to test its products, measuring a reasonable temperature curve, the point at which the rice is damaged and the taste.

"In an industry with strong R&D strengths, Hallsmart is responsible for leading the development and revision of national and industry standards. We play a leading role in the development of the industry," Song said.

In the US market, Hallsmart developed a rice cooker for pet food. For Middle East consumers who like to eat rice with a crust, it also developed a special rice cooker. Such attempts helped Hallsmart survive the financial crisis by developing personalized products for overseas markets.

Trying to connect with markets along the Silk Road, Hallsmart plans to embark on a five-year plan of cooperation with Southeast Asian countries such as India, to cooperate on technology, management, talent and funds.

Through partnerships with famous brands including Ikea, Black & Decker and Philips, Hallsmart produces an annual output valued at more than 1 billion yuan.

Hallsmart's products have been approved by the UK, the US, Germany, Japan and the EU quality and international quality system certifications, which allow them to enter into more than 70 countries and regions.

zhangyuchen@chinadaily.com.cn