Under the Belt and Road Initiative, the HBIS Group from China took over the struggling Smederevo Steel Plant in Serbia in 2016. Significant investments in technology and management have since modernized the facility, which had been unprofitable for decades. This rejuvenation project has not only brought much-needed funding and advanced technologies but has also revitalized the local economy, creating over 5,000 jobs and fostering a sense of hope among residents.