This article was written in 2019, but all the more relevant...

This article was written in 2019, but all the more relevant today. https://www.fluencecorp.com/fluence-making-china-market-inroads-with-aspiral/

In light of the developments with BEWG this week, it is worthwhile to reproduce some parts of the above article to explain why FLC has entered into a joint research and development co-operation agreement with BEWG.

(1) To build trust relationships.

Moreover, human trust relationships rival technology in the PRC business landscape, and China is becoming more competitive for equipment sales due to pricing and local support. Limits on foreign involvement in projects give products manufactured within the PRC a significantly larger opportunity.

(2) Foreign yet be local.

Fluence has adapted to this landscape by setting a foundation of local manufacturing and local representation. To establish the type of business relationships highly valued by the Chinese, Fluence took time in 2016 and 2017 to set up an infrastructure to meet client expectations, giving the company an edge over competitors.

FLC quoted this article on how to do business in China. http://www.launchfactory88.com/how-you-can-find-a-market-within-chinas-industrial-water-sector/

As a student of international business, it has been educational to observe why FLC has built up local leadership and local research and development capabilities. To build trust relationships. Foreign, yet be local to help in the cause of assisting in China's development goals.

Leaving you to decide whether FLC is a good proxy to China's growth in sectors approved by the Central Govt.