Safe travels on the Silk Road – with Funk
28.02.2018 - The Silk Road once connected China to Europe and paved the way for valuable fabrics and spices. More than 2,000 years later, a new rendition of this ancient trade route is coming to life. With the ‘One Belt, One Road’ (OBOR) initiative, Chinese President Xi Jinping wants to create the world’s largest network for economic, political and cultural cooperation.
OBOR will be a uniting force
Thomas Wang, a Member of the Funk Management Board responsible for business in China, says, ‘The new Silk Road is a project of gigantic proportions – both geographically and financially.’ With two economic routes on land and sea, China is uniting three continents: Asia, Africa and Europe. Beijing is looking to invest more than 900 billion euros in the project in the coming years. So far China has welcomed 64 states to the initiative, including Germany. In this role China is becoming a driving force of global investment flows. Popular areas of investment for the Chinese are the high-tech sector, especially in manufacturing, and energy and utility companies. The Chinese are also investing more heavily in the fields of transport, infrastructure, internet and communication technology, and entertainment.
Funk has its own China team
Corporate takeovers, infrastructure projects and exchange of goods and services are not without their risks for Chinese investors, however. As Thomas Wang says, ‘The right protection in the form of warranty and indemnity cover, for example, or a transport insurance policy, is incredibly important for Chinese companies in Germany.’ That’s why Funk has its own dedicated team exclusively for addressing the insurance needs of Chinese companies. In the German-speaking realm, this is truly unique. Funk is the market leader in insurance and risk management consultancy for Chinese companies with offices in Germany. Yu Zhu, leader of the China team at Funk, explains:
More than 20 years of experience with China
‘The most crucial thing is to speak the language well and understand the Chinese mentality.’ Funk’s China team has over 20 years of experience in this special field of consultancy and devises every kind of insurance solution for its clients – from extended products liability insurance and property insurance to private cover.
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