Suning Signs Cooperation Agreement with Czech Trade Promotion Agency to Expand Business in Europe, Strengthen 'Belt and Road' Ties

The Belt and Road Initiative ("the Initiative") is a Chinese development strategy that focuses on connection and cooperation primarily among China and Eurasian countries. Suning's new "Czech Pavilion" is one of the first endeavors to reach the markets of the Initiative. It sells more than 200 Czech products, including food, cosmetics and clothes.

Milos Zeman, President of the Czech Republic, attended the signing ceremony in Nanjing after attending the Belt and Road Initiative Forum for International Cooperation that concluded in Beijing on May 15.

President Zeman spoke highly of the Belt and Road Initiative, as well as what Suning has done to introduce overseas brands to China.

"The Initiative is a very great strategy. It's not merely about a 'road.' It's more about 'connectivity.' Suning is a very successful company. We hope more products from the Czech Republic can be brought to Chinese consumers by Suning."

Zhang Jindong, chairman of Suning Holdings Group, said that the "Czech Pavilion" marks the start of a wide range of cooperation projects with Czech companies, adding, "It also opens a new chapter in Suning's international business plan."

Suning was chosen by the Czech Republic as a major partner to strengthen "Belt and Road" ties because of the Group's performances in six industries as a leader in both online and offline retailing in China alongside its long history of opening up new markets. The company's e-commerce network now covers a range of regions around the world, including Hong Kong, Japan, ASEAN countries, Germany and the United States.

Zhang said that Suning will integrate resources from the six industries that it has a presence in and carry out multiple cooperation projects with Czech companies.

"The Czech Republic is quite strong in football. Suning has its own football clubs. We will team up to nurture football talent in the future."

"For enterprises, the 'Belt and Road Initiative' is a powerhouse of opportunities. I hope we can build ties with more countries to boost the development of more companies, and offer more and better choices to consumers."

About Suning Holdings Group

Founded in 1990, Suning Holdings Group, through its subsidiaries, is a market leader across six industries: Retail, Real Estate, Media and Entertainment, Investment, Sports, and Financial Services. Two of Suning's subsidiaries are publicly listed, Suning Commerce Group and LAOX Japan. In 2016 Suning ranked as the second-largest Chinese non-state owned enterprise. With online and offline retail platforms serving a market of around 280 million loyal consumers, Suning is able to provide comprehensive services for consumers, as well as reliable and efficient support to overseas companies that are just entering the Chinese market.

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