The University of International Business and Economics (UIBE) has published a development report on Chinese Multinational Corporations of 2017 during a seminar on the growth of Chinese multinational financial enterprises hosted by the university on April 15.
The report was compiled by professors of international trade at UIBE, Lu Jinyong and Lang Qingxin, and professor Wang Huiyao.
Scholars and representatives of the enterprises taking part in the forum discussed topics on financial risk control, institutional development, Chinese multinational companies and the Belt and Road Initiative.
Wang Qiang, vice-president of UIBE, said the report is an important product of the UIBE think tank, containing important guidance for Chinese companies’ investing abroad.
Huo Jianguo, a researcher with the Ministry of Commerce, said that the Chinese enterprises should explore new models for overseas investment, improve management, strengthen risk prevention and control mechanisms.
Zong Liang, principal researcher of the Bank of China, said China should pay attention to developing a batch of high-quality global corporations, and in particular to enhancing the power of China’s multinational banks.
Zhang Liping, a researcher of finance at the State Council Development Research Center, said that there are many large-scale investment projects abroad. But only a small number are stable and profitable. This highlights the importance of the Belt and Road Initiative.
Chen Taotao, a professor of corporate management with Tsinghua University, said that Chinese multinational companies should carefully study the needs and development strategies of the host countries to find a fitting development model, while Zhang Hui, a professor of economics at Peking University, said that enterprises should find the appropriate entry point and place in the value chain according to their own conditions and the governance model of the value chain, and to avoid only focusing on the lower end of the value chain.
Yang Liqiang, a professor of foreign direct investment studies of UIBE, said China should boost the internationalization of its large-scale commercial banks and strengthen the development of Chinese multinational corporations to adapt to the increasingly harsh investment environment abroad. (Li Yang)