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Seminar Taps Private Power in Go-Global

Private enterprises are becoming a driving force behind the country’s endeavors to explore business opportunities overseas, said ACFIC Vice Chairman Sun Anmin during a seminar hosted by the ACFIC in Beijing between July 26 and 27.

He said that many of them succeed in striking a fine balance between “doing business in other countries” and “giving something back home”, as they turn investment into opportunities of systematically and progressively acquiring international sales channels, intellectual property rights, technological research and development ability, and global brands. Those key elements have given the private enterprises a new edge in technology and market value and laid the foundation for changing their patterns of growth, he added.

Some 70 government officials, researchers and federation and business leaders from all over the country discussed how to promote the overseas business opportunities and activities of the private enterprises at the seminar.

Sun pointed out that “goglobal” is not just a national strategy but also the private enterprises’ intrinsic need for growth. In recent years, the enterprises have greatly enhanced their economic power, technological and equipment levels, scientific and research abilities, corporate management skills and overall quality of their employees. Many large private enterprises have distinguished themselves internationally with strong competitiveness.

Meanwhile, their investment domains and models are becoming increasingly diversified, with the establishment of overseas sales networks and channels, manufacturing and processing enterprises, design and research and development centers, industrial park clusters, and cooperative resources exploration, as well as mergers and acquisitions.

Due to their unique advantages in overseas investment, for example, the rights of property, mechanism, costs, entrepreneurial spirit and private nature, the private enterprises have become a significant force in the country’s overseas investment.

Summing up the services provided by ACFIC and its local chapters in helping the private enterprises to go overseas, Sun mentioned the following: firstly, expanding the federations’ service scope by cooperation with the Ministry of Commerce and other government agencies; secondly, making proposals to the government based on the knowledge of problems and difficulties of the private enterprises in “going overseas” via research, seminars and questionnaires; thirdly, providing training to private enterprises with a view to encouraging them to compete internationally and improving their global managerial skills; fourthly, strengthening the communication and cooperation with financial institutions for financing support for the cross-border operation of private enterprises; finally, exploring overseas liaison channels and providing information and legal service to the enterprises.

Regarding ACFIC’s future work in promoting overseas business activities by private enterprises, Sun set several targets, including creating a favorable policy environment; taking advantage of its good relations with overseas chambers of commerce and industrial and commercial circles to build an international cooperation platform; fostering a generation of global private enterprises with international competiveness and self-innovation ability; raising the sense of social responsibility of the private enterprises while helping them to go global; helping them improve the ability to handle risks and crises; establishing a service system to support private enterprises to do business overseas.

Representatives from the Ministry of Commerce, the Central Bank, the Import and Export Bank of China, and the State Council Development Research Centre briefed participants on the country’s policies, and situations and potentials of the private enterprises going global.

Several local federations of industry and commerce and private business leaders shared their experience with the participants.