Challenges and Countermeasures for the Foreign Trade Development of Small and Medium-sized Steel Enterprises in Henan Province under the Belt and Road Initiative

The purpose of this study is to explore the challenges and countermeasures faced by small and medium-sized steel enterprises in the process of foreign trade development under the background of "Belt, One Road" Initiative. Through an investigation of numerous small and medium-sized steel enterprises in Henan Province, the primary issues affecting these enterprises in international market competition, trade barriers, capital operations, and technological innovation are analyzed. The study found that although the "Belt and Road" provides new development opportunities for local enterprises, they are limited by the size and resources of the enterprises, and these enterprises encounter difficulties in expanding into the international market. The research method employed in this paper evaluates the advantages, disadvantages, opportunities, and threats of Henan's small and medium-sized iron and steel enterprises against the backdrop of the "Belt and Road Initiative" using a SWOT analysis tool, thereby providing a basis for formulating corresponding development strategies. In addition, this paper will also use case analysis, empirical analysis, in-depth interviews, comparative research, policy analysis, field visits to study. Therefore, these research methods are used to deal with some problems of steel enterprises, and countermeasures and suggestions are put forward to optimize product structure, strengthen brand building, utilize policy support and enhance innovation ability, to promote Henan small and medium-sized steel enterprises to better integrate into the international market and achieve sustainable development.