In 2013, China put forward the “One Belt — One Road” strategy. Within the framework of this strategy, it is planned to provide infrastructure for connections between participants and simplify foreign trade interactions. The “One Belt — One Road” strategy effectively reduces transport costs and promotes the orderly movement of production factors between countries. Currently, strategy is becoming one of the key factors in the growth of world trade. Industry is a key sector of China's economic cooperation in the implementation of the “One Belt — One Road” concept. This article presents an analysis of the current state of the industrial potential of Henan Province, the competitive advantages of productive forces, taking into account the geographical characteristics of Henan Province, on the basis of which proposals are formulated to increase competitiveness in the context of the Chinese strategy “One Belt — One Road”.