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Huang Raises Go Global Bar

ACFIC Chairman Huang Mengfu said that the "going-global" by Chinese enterprises should aim not only to make investment overseas, but also to boost local employment, environmental protection and global development, as well as to blaze a new path for China"s people-to-people diplomacy.

"Chinese private enterprises should establish a strong sense of social responsibility in terms of strategic setup and development concept as their first step of going-global," he saidat the inaugural ceremonyof the China International Chamber of Commerce for the Private Sector(CICCPS), the country"s first national association to organize and promote overseas investments by Chinese private enterprises.

Huang hailed the establishment of CICCPS as in sinc with the deepening of globalization and the profound adjustment of world economic structure.

Despite the many economic uncertainties in the wake of financial crisis and equity debt crisis, two trends are irreversible, namely globalization and regional economic integration, he said.

The rise of Asia and the international division of industrial structure have triggered huge changes that help promote the exchange of capital and human resources, further market exploration and resource sharing. And this, according to Huang, means opportunities for China"s development and the best timing for Chinese enterprises to go global.

CICCPS Chairman Zheng Yuewen said that as China"s dependency on overseas resources, technology and market has been increasing, going-global has become necessary if China wishes to change its economic growth pattern and attain sustained growth and if an enterprise aims to further grow.

CICCPS" current 128 members come from 28 provinces, municipalities and autonomous regions, and seven of them are among the top 10 of China"s Top 500 Private Enterprises List for 2011 compiled by ACFIC.

Date:2011-11-28 17:13:19