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Huang Attends 1st China Overseas Investment Summit

The 1st China Overseas Investment Summit was hosted by the Hong Kong China Chamber of Commerce in Hong Kong between November 15 and 16 under the theme of "global resources restructuring and China overseas investment strategy" with the attendence ofabout 1,000 government officials, investors, corporate executives and scholars.

Chinese Vice Premier Li Keqiang, in a statement sent to and read at the inaugural ceremony, said that stepping up the implementation of the "go global" stragetgy is a major task of the 12th Five-Year Plan and a requirement of openinging a new chapter of the country"sopening up policy. The joint efforts of the Mainland and Hong Kong to go global can complement each other"s advantages and have great prospects, he said.

Li expressed hope that business circles will seize the opportunities to advance to the global markets in various manners and channels, practice, grow and gain strength via international competition, and achieve mutual benefit and win-win in the process of cooperation.

Stephan Lam, Chief Secretary of the Office of the Chief Secretary for Administration of the Hong Kong SAR, said that Hong Kong has been a most important window of contact between the Mainland and the world.

He said that in recent years, as the Mainland enterprises continue to grow, Hong Kong can still play a unique role and serve asthe best platform for the Mainland enterprises to go global. He suggested that they first settle down in Hong Kong, and then "go global" with their Hong Kong partners later, thus to "orient themselves with international customs and rules in a relatively familiar environment to overcome disacclimatization problems."

In his address to the inaugural ceremony, ACFIC Chairman Huang Mengfu, who is also the chief consultant of theHKCHCC, said that the trend of economic globalization will not change and that the trend of the internationalization of Chinese enterprises will not reverse despite the lasting impact of the current global financial crisis. Additionally, the drop of prices of many assets over the past two years have created more favorable conditions for transnational acquisitions.

"As an important manner of participation in the economic globalization, the transnational investment by Chinese enterprises is bracing for historic opportunities," he said.

Huang noted that the country"s 12th Five-Year Plan also requires coordinated planning for "introducing from overseas" and "going global", attaching equal importance to the usage of foreign capital and outbound investment, while guiding various enterprises to conduct outbound investment and cooperation in an orderly manner.

He expressed confidence that more Chinese enterprises will appear on the list of transnational companies in the near future.

HKCHCC Chief Founding President and the Summit Organizing Committee Executive Chairman Chan King-wai called the Chinese enterprises" outbound drive, active participation in global competition and resources distribution "a historic choice".

He said that the annual summit which aims to build a platform for interraction between national policies and investment situations, match-making for Chinese investors and overseas projects, and exchanges between investors, officials and scholars, will help encourage more Chinese enterprises to go global.

Last updated 14:14, Tuesday, Nov. 22.

Date:2011-11-22 10:30:36