Witnessed by the Egyptian Prime Minister, Changhong Smart was invited to sign a cooperation framework agreement with Egypt, establishing a presence in North Africa and contributing to the high-quality joint construction of the Belt and Road Initiative.

This event coincides with a significant period marked by Chinese President Xi Jinping’s state visit to Egypt, the 70th anniversary of the establishment of diplomatic relations between the two nations, the continued deepening of their comprehensive strategic partnership, and the increasingly substantive progress of practical cooperation under the Belt and Road Initiative. On September 3, 2026 (local time), at the invitation of the Egyptian government, Changhong Smart signed a cooperation framework agreement with Egypt’s Ministry of Industry and The Sovereign Fund of Egypt, outlining plans to develop and construct Changhong Smart’s African base in the country.

Egyptian Prime Minister Dr. Mostafa Madbouly shakes hands warmly with Chairperson Qiu Yunjie.

Egyptian Prime Minister Dr. Mostafa Madbouly attended the signing ceremony. Dr. Mohamed Farid, Minister of Investment and Foreign Trade, and Mr. Khaled Hashem, Minister of Industry—representing the Sovereign Fund of Egypt—signed a cooperation framework agreement jointly with Ms. Qiu Yunjie, Chairperson of Changhong Intelligent.

Joint Signing of a Cooperation Framework Agreement

Leveraging the core capabilities established through the Changhong Intelligent Automotive Factory, this project supports the development of Egypt's local automotive manufacturing industry and serves as a prime example of in-depth cooperation between the Chinese and Egyptian automotive sectors. Changhong Intelligent had previously successfully undertaken the construction of a new complete vehicle plant and an upgrade project for the AFA plant for the Mansour Group (MMM); the successful implementation of these two projects laid a solid foundation for this deepened cooperation.

[Group Photo] From right to left: Khaled Hashim, Minister of Industry of Egypt; Mostafa Madbouly, Prime Minister of Egypt; Mohamed Farid Saleh, Minister of Investment and Foreign Trade of Egypt; and Qiu Yunjie, Chairman of Jiangsu Changhong Intelligent.

Since launching its internationalization strategy in 2019, Changhong Intelligent has remained committed to a balanced global footprint. The company continues to strengthen its European R&D platform, vigorously expand into high-potential markets such as Africa and the Middle East, and simultaneously advance its presence in Japan and South Korea. Furthermore, it carefully assesses the geopolitical landscape across various global regions, striving to build an international business portfolio with balanced risk.

[Group Photo] Mohamed Mahmoud Sami, Deputy Minister of Industry of Egypt (third from left), with the Changhong delegation.

This project actively responds to the cooperation initiatives outlined in the China-Egypt joint statement, injecting new industrial momentum into the deepening of the comprehensive strategic partnership between the two nations. Furthermore, by leveraging Egypt’s network of free trade agreements—which connects the country to markets in Africa, the Middle East, Europe, and the Americas—the project effectively hedges against uncertainties in the international economic and trade environment. It enables Changhong Smart to benefit from tariff policy incentives, expand channels for exporting products, and optimize its global supply chain layout.

Attendees

Chinese Side: Ms. Qiu Yunjie, Chairperson of Jiangsu Changhong Smart Equipment Co., Ltd., and the company delegation.

Egyptian Side: Dr. Mostafa Madbouly, Prime Minister of Egypt; Dr. Mohamed Farid, Minister of Investment and Foreign Trade; Mr. Khaled Hashim, Minister of Industry; and representatives from the Sovereign Fund of Egypt and relevant government departments.