Top Ten Trends of Chinese Enterprises Going Global: Risk Opportunities Coexist

Abstract Organized by the State Council Counselor's Office, the Globalization Think Tank (CCG), the International Strategic Research Center of the State Council Counselor's Office, the Financial Research Center of the State Council Counselor's Office, and the South-South Cooperation Financial Center co-organized the “50-member Forum for Chinese Enterprises Going Global”20...
Hosted by the State Council Counselor's Office, hosted by the Global Think Tank (CCG), the International Strategic Research Center of the State Council Counselor's Office, the Financial Research Center of the State Council Counselor's Office, and the South-South Cooperation Financial Center, the “50-member Forum for Chinese Enterprises Going Global” will be held in 2017. Held in Beijing on the 13th.
Wang Zhongwei, director of the Party Committee of the State Council Counselor's Office, said in his speech: "Since this century, with China's accession to the World Trade Organization, the scope and scale of foreign economic cooperation has been expanding, resources have been continuously improved, and the ability and level of foreign capital investment has been significantly enhanced. Chinese enterprises have Become an eye-catching new force on the world stage today."
It is true that in the 30 years before the reform and opening up, the "introduction" was the main focus, and in the next 30 years, the "going out" was the main. In 2014, the globalization of Chinese companies opened a new era. In 2015, Chinese companies invested in foreign investment for the first time. In 2016, the overseas development momentum of Chinese companies continued to be strong, and more Chinese companies were looking for business opportunities in the global market.
Data show that in 2016, China’s foreign direct investment flows reached US$170.11 billion, while China’s actual use of foreign investment was US$126 billion. Foreign investment has attracted more foreign investment for two consecutive years, and China has begun to enter the stage of net capital export.
Based on the research and analysis of the 2922 cases, China and the global think tank released the top ten status and characteristics of Chinese companies' overseas investment.
First, the flow of foreign direct investment by Chinese companies has continued to grow for 10 consecutive years. In 2016, Chinese enterprises' foreign investment reached a record high. Second, from the perspective of the investment region, the overseas investment of Chinese companies in 2016 is mainly concentrated in Europe, North America and Asia Pacific. From a single country perspective, Chinese companies are still enthusiastic about investing in the United States. Third, from the perspective of investment entities, investment entities are diversified, and small and medium-sized private enterprises are active overseas. Fourth, from the perspective of foreign investment, the momentum of overseas investment in manufacturing is still strong, accounting for more than one-third of the total investment. Investment in information technology, computer services, and software industries accounted for 11% of the total, up 3% from last year. The enthusiasm for investment in overseas real estate has declined. It has dropped from 12% last year to 5%. Fifth, from the perspective of investment methods, overseas investment by Chinese companies is mainly based on mergers and acquisitions, supplemented by greenfield projects. Sixth, the investment in the countries along the “Belt and Road” is mainly based on energy and infrastructure, with large-scale investment. Seventh, judging from the overseas development strategy of Chinese enterprises, Chinese enterprises “going out” attach importance to the layout of the entire industrial chain and continuously enhance their international competitiveness. Eighth, the overseas operation of Chinese enterprises has gradually opened up the “localization” strategy. Many enterprises will achieve a win-win situation in the economic benefits and local social development to the height of corporate strategy. Ninth, Chinese enterprises have “going out” and have greatly improved the risk prevention of overseas operations. Finally, the overseas brands and influence of Chinese companies have increased, and the “soft power” competition awareness has increased significantly.
The report also believes that the globalization of enterprises is a long-term and complex process. Compared with multinational companies in developed countries, the internationalization process of Chinese enterprises is still short and the experience is insufficient. The globalization of Chinese enterprises has a long way to go.
Yu Jianlong, secretary general of the China International Chamber of Commerce, warned in his speech that corporate overseas investment needs to be alert to risks. In his view, the risks mainly come from three aspects. First, the situation in some countries is unstable, the policy continuity is not strong, and even the order is changed. Many companies that have gone abroad are at a loss. Second, some enterprises are unfamiliar with the international rules of overseas markets, and their risk assessment ability is weak. In addition, the research on the country is not deep, which leads to acclimatization. Third, the coordination mechanism is weak. Chinese enterprises that “go out” face problems such as information asymmetry, fragmentation of resources, unfavorable disputes, and lack of maintenance of legitimate rights and interests.
Based on this, Yu Jianlong suggested that, first, build a multi-bilateral business cooperation mechanism as a channel, continuously strengthen exchanges and cooperation between Chinese and foreign business communities, and strengthen the construction of the industrial and commercial cooperation mechanism with the “Belt and Road” construction. Second, with various trade and investment promotion activities as a platform, we will promote the “going out” docking project and expand the international market. Third, with the focus on strengthening foreign-related commercial legal services, we will fully safeguard the overseas rights and interests of China's “going out” enterprises, strengthen cooperation with relevant national counterparts and professional legal services, and provide important market laws, regulations, business environment and technical standards. To provide strong support for enterprises to "go out". Fourth, to participate in the formulation of international economic and trade rules as a starting point, to create a favorable international economic and trade environment for Chinese enterprises to "go global." In-depth participation in the work of the United Nations Commission on International Trade Law and other institutions, guide the development of international rules and standards, and strive to enhance China's voice in the global economic governance, and create a favorable environment for enterprises to "go global."
In addition, at the meeting, Wang Zhongwei also called on “going out” enterprises to share their experiences and seize the historical opportunity of the “Belt and Road Initiative” to further promote the global resource allocation of the Chinese economy and better promote the “Belt and Road” construction. Chinese enterprises have made due contributions to the implementation of the "going out" strategy and promoting the healthy development of China's economy and society.

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