China: Shenzhen redwood benefit from The Belt and Road

Source:
ITTO/Fordaq
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According to Shenzhen Redwood Culture and Art Association the development of Shenzhen redwood products will benefit from the ‘Belt and Road’ strategy of the government.

There are more than 300 redwood furniture manufacturers concentrated in Guanlan Town, Baoan District, Shenzhen City. These enterprises employ around 40,000 works and have an annual output value of more than RMB3 billion.

At present, more than 80% of the national precious redwood logs are purchased in Shenzhen and mainly in Guanlan Town. There are nearly 500 redwood log traders in the town and redwood furniture products were worth RMB3.6 billion last year.

Six of the top domestic redwood furniture brands are made in Guanlan Town. Redwood enterprises in Guanlan Town have more than 2000 patents and have won more than 100 national awards.

The Chinese government has launched the development strategy named ‘Belt and Road’ which will benefit importers and traders in redwood.

Shenzhen enterprises import redwood logs mainly from Southeast Asian countries such as Myanmar, Vietnam, Cambodia and Indonesia. Logs and sawnwood are also sourced in Africa, with smaller volumes from Latin America.

Shenzhen redwood furniture is exported mainly to the US, Italy and Australia. All the source countries are included in the’ Belt and Road’ plan The authorities in Shenzhen have been promoting the development of redwood industry through sculpture competitions, exhibitions and workshops.

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