In January this year, the well-known Chinese bicycle brand Shanghai Fenghuang announced that its wholly-owned subsidiary Shanghai Phoenix Bicycle Co., Ltd. plans to invest RMB 29 million to set up a subsidiary in Hong Kong, and the Hong Kong subsidiary will invest in establishing a wholly-owned subsidiary PT. Phoenix Bicycle Indonesia in Indonesia, with a registered capital of RMB 28 million. Indonesia Phoenix is mainly engaged in the production and sales of bicycles, children's bicycles, and e-bikes, with an annual production capacity of approximately 1.4 million units. Setting up a factory in Indonesia not only reduces trade risks but also deeply integrates into the markets of countries participating in the Belt and Road Initiative through localized production, creating local job opportunities while transforming the enterprise from a trader to an investor.
In January this year, the well-known Chinese bicycle brand Shanghai Fenghuang announced that its wholly-owned subsidiary Shanghai Phoenix Bicycle Co., Ltd. plans to invest RMB 29 million to set up a subsidiary in Hong Kong, and the Hong Kong subsidiary will invest in establishing a wholly-owned subsidiary PT. Phoenix Bicycle Indonesia in Indonesia, with a registered capital of RMB 28 million. Indonesia Phoenix is mainly engaged in the production and sales of bicycles, children's bicycles, and e-bikes, with an annual production capacity of approximately 1.4 million units. Setting up a factory in Indonesia not only reduces trade risks but also deeply integrates into the markets of countries participating in the Belt and Road Initiative through localized production, creating local job opportunities while transforming the enterprise from a trader to an investor.