In April 2016, Chinese enterprise Hesteel Group actively responded to the Belt and Road Initiative and successfully acquired Serbia's century-old steel mill Smederevo Steel plant, which had been losing money for seven consecutive years. The acquisition by Hesteel Group is seen as a model project for international production capacity cooperation between China and Central and Eastern Europe. Through this cooperation, Hesteel Group has injected new vitality into the Smederevo mill, helping it to achieve profitability and further increasing the mill's presence in Serbia and neighboring countries.

In addition, Hesteel Group has created a large number of local jobs and improved the living standards of local people. At the same time, through close cooperation with local enterprises and communities, Hesteel Group has also actively promoted the deepening of cultural exchanges and friendship between China and Serbia.

The success of this acquisition not only highlights the strength and international vision of Chinese enterprises, but also fully proves the positive role of the Belt and Road Initiative in promoting international production capacity cooperation and promoting the economic development of countries along the route. The successful cooperation between Hesteel Group and Serbia has provided valuable experience and reference for other Chinese enterprises to participate in international production capacity cooperation. Editor/Xu Shengpeng