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ACFIC Researches Private Enterprises’ Outbound Drive (I)

To leaders of ACFIC led teams to several parts of the country in late March and early April for research on the service and steering roles of federations of industry and commerce in the go-global of private enterprises.

Between March 23 and 27 in south China’s Guangdong province, ACFIC Chairman Wang Qinmin and Vice Chairman and China Minsheng Investment Corporation Vice Chairman Sun Yinhuan convened seminars with local federations of industry and commerce, government authorities, and private enterprises, and visited an array of outstanding go-global private enterprises.

Wang spoke highly of the moves taken by Guangdong’s various levels of federations of industry and commerce and chambers of commerce and government authorities to serve and guide private enterprises’ outbound business drive, the practice of establishing big transnational companies, and some pioneering policies.

He said that the go-global strategy is a major state open-up policy made by the central government in the new normal economic stage, and that various localities and authorities must fortify information service, facilitate service concerning exchanges with foreign countries, and strengthen protection of go-global private enterprises’ rights and interests. He also stressed the importance of establishing an adaptable and favorable administration and service mechanism, seeking service from overseas chambers of commerce, boosting collective go-global of small and medium-sized enterprises, participating in the Belt and Road initiative and Free Trade Zones construction, optimizing corporate elements reallocation in a bigger arena and scoring new heights of industrial development.

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During his research in southwest China’s Sichuan province from March 31 to April 3, ACFIC Vice Chairman Lin Yifu said that China must fully utilize both domestic and international markets and resources in order to sustain a medium-to-high-speed growth and that go-global has become an inevitable trend for enterprises undergoing industrial structural upgrading and technological innovation. “On the one hand, it can introduce advanced technology from abroad to lift domestic industries in a short time and enable enterprises without comparative edge in China use their technology, management, funding and business channels accumulated at home to start up anew in other countries; on the other hand, for China, a country of fewer resources and higher costs, go-global is a good way of accessing resources and capital,” he said.

ACFIC Vice Chairmen Huang Rong and Wang Zhixiong conducted research in Shanghai Municipality between March 31 and April 2. Wang, who is also the Shanghai FIC Chairman, said that private enterprises’ go-global is of great significance to China’s market and influence expansion and participation in the global economic order remaking; and currently technological transfer through private enterprises’ mergers and acquisitions, their overseas research institutions and technology teamwork has become a key channel for Shanghai to integrate global resources.

ACFIC Vice Chairman Xie Jingrong also did research in Tianjin Municipality and east China’s Zhejiang province between March 23 and April 3.

Date:2015-4-11 11:50:36