(Jinan, June 27, 2025) Shandong Tengyun Group recently announced that its core enterprise, Shandong Tengyun Special Vehicle Manufacturing Co., Ltd., has established wholly-owned subsidiaries in Tashkent, the capital of Uzbekistan, and the China Free Trade Zone in Hainan Province. This move marks the official launch of a two-way layout of the "Belt and Road" corridor markets and domestic strategic nodes. This initiative signifies that this leading enterprise in the field of specialized vehicles in China is reconfiguring the global supply chain system with an international perspective and deeply integrating into the new "double circulation" development pattern.
The dual company's strategic planning has reached a crucial stage.
The Uzbekistan subsidiary - Tengyun Central Asia Logistics Technology Co., Ltd., will leverage the local "four gold" industries (gold, cotton, oil, and natural gas) for its resources and focus on conducting special vehicle assembly, cross-border logistics, and energy equipment trading businesses. Uzbekistan, as the largest economy in Central Asia, has a GDP growth rate of 6.5% in 2024 and an annual production capacity of over 300,000 vehicles in the automotive industry. There is a strong demand for special transportation equipment. The company plans to build a semi-trailer production line with an annual output of 5,000 sets in the free economic zone of Tashkent. By taking advantage of the local 12% value-added tax rate and the tax reduction policy for foreign-funded enterprises, it aims to reach out to neighboring markets such as Russia and Kazakhstan.
The Hainan subsidiary - Zhongshitengyun Import and Export Trade (Hainan) Co., Ltd. focuses on the policy benefits of the "one border free, the other border regulated" policy of the Hainan Free Trade Port, and mainly develops cross-border e-commerce, processing and value-added trade, and international shipping agency business. According to the deployment of Hainan's 2025 closure operation, the company will fully utilize policies such as a 30% tariff exemption for processing and value-added goods and a 15% corporate income tax rate, and build a distribution center for automotive parts in Southeast Asia. Currently, the Hainan subsidiary has reached a cooperation agreement with the Yangpu Bonded Port Area and plans to build an intelligent warehousing base covering an area of 20,000 square meters. It is expected that after its completion in 2026, it can achieve annual import and export volume of over 1 billion yuan.
Industrial synergy and policy resonance
This layout represents a crucial move in Shandong Tengyun's "manufacturing + logistics + trade" full industrial chain strategy. The parent company, Shandong Tengyun Special Vehicles Manufacturing Co., Ltd., was established in 2014 and is located in Lianshan County, the "capital of trailers in China", with 9 major series and over 80 types of products, an annual production capacity of 20,000 units, and received special government support through a technology transformation loan in 2024. The Uzbekistan subsidiary will undertake the technology transfer from the parent company, taking advantage of the low-cost advantages of local natural gas at 0.1 US dollars per cubic meter and electricity at 0.04 US dollars per kilowatt-hour, to achieve local production. The Hainan subsidiary will rely on the international shipping network of enterprises such as COSCO and Evergreen in Hainan to open up the "Central Asia - Hainan - Southeast Asia" land-sea combined transportation channel.
It is worth noting that the new "Railway Transportation Law" implemented by Uzbekistan in 2025 allows enterprises to set their own prices. Moreover, the "zero-tariff" list in Hainan Free Trade Port has been expanded to include 297 items of goods, providing institutional guarantees for the operation of the dual companies. Huang Hongman, the chairman of Shandong Tengyun, stated: "We will focus on the Central Asian market with Uzbekistan as the pivot, and use Hainan as a window to link global resources, forming a closed loop of 'manufacturing going global' and 'trade returning home'."
Regional economic empowerment effect
The establishment of the subsidiary in Uzbekistan will directly promote local employment and technological upgrading. According to the plan of the Uzbek government, it aims to attract 43 billion US dollars in foreign investment by 2025, focusing on the development of green energy and high-end manufacturing. Tengyun Central Asia Logistics Technology Co., Ltd. will introduce the patented technologies independently developed by the parent company, such as the "Special Pull-Out Transport Semi-trailer Monitoring and Warning System", and it is expected to create 300 jobs. It will also drive the development of upstream supporting industries through local procurement.
In Hainan, Zhongshitengyun Import and Export Trading Company will collaborate with the Hainan International Ship Registration Administration to explore international ship financing business under the "China Yalong Port" flag registration policy. At the same time, the company plans to leverage the "cross-border data flow" pilot policy of the Hainan Free Trade Port to build a digital supply chain platform covering Central Asia and Southeast Asia, and promote the construction of the "Digital Silk Road".
It is disclosed that Shandong Tengyun plans to set up offices in Southeast Asia, the Middle East and other regions in the future, and explore cooperation with enterprises such as BYD and Goldwind Technology in the field of new energy logistics. The company aims to achieve an overseas business share of over 40% by 2027 and become a globally competitive comprehensive service provider of special vehicles.
The establishment of this joint venture is not only a proactive move by Shandong Tengyun in response to the "Belt and Road" initiative, but also a vivid demonstration of how Chinese manufacturing has achieved a global breakthrough through "policy coordination, technology transfer, and local operation". With the deepening of China-Ukraine economic cooperation and the release of policy benefits in the Hainan Free Trade Port, this enterprise from Liangshan is writing a new legend in the international market through the "dual-wheel drive" model.