A signing and welcome ceremony of the 90th resident company is held via video link on May 11 in Minsk, Belarus. [Photo/CAMCE]

The China-Belarus Industrial Park, or Great Stone, a landmark cooperation project under the Belt and Road Initiative, held an agreement signing ceremony on May 11 for a new resident company, Transport Complex AF LLC.

The Chinese enterprise is the 90th resident company of the industrial park and also the third Chinese one to enter the park this year. It plans to build a monitoring center for cross-border transportation with the help of the Internet of Things technology.

This year marks the 30th anniversary of the establishment of diplomatic relations between China and Belarus. The two countries have become comprehensive strategic partners with fruitful results achieved in the joint building of the Belt and Road Initiative and major projects such as the China-Belarus Industrial Park, which has celebrated its seventh birthday.

The head of the park's administration, Alexander Yaroshenko, expected the number of resident companies to reach 100 by the end of this year, saying that the administration stands ready to support them in all matters.

Among the 90 enterprises in the park, 46 are financed by China, 27 by Belarus and 17 by other countries. The total investment has amounted to $1.26 billion.

At the May 11 ceremony the park also worked with Honine Group, a large industry-finance integrated group enterprise, to speed up the innovation and development of the green health industry in the park, and to deepen the joint construction of the Healthy Silk Road and innovate the construction of the Green Silk Road.

The enterprise aims to make full use of green organic animal and plant peptide materials from Belarus to develop and produce protein peptides used in biomedicine, nutrition and health and other fields.

The industrial park is the largest investment project of China in Belarus and an important example of the two countries' cooperation in the Belt and Road Initiative.

As the major shareholder and contractor of China-Belarus Industrial Park Development Company, Sinomach will give full play to its professional strengths and work with partners to bring in more targeted investment.