Chinese enterprises' going out brings about win-win results
In the first half of this year, China's outbound investment totaled $48.19 billion, down 45.8 percent year-on-year. This was due to China's tightening of its foreign exchange policy, and inspection of investment risks and problems abroad, as well as the western countries' increasingly strict inspection on China's investment.
It is one-sided for developed countries to blame Chinese enterprises for creating additional competition pressure on their domestic companies, while ignoring the Chinese enterprises' contribution to their economy.
China's outbound investment had increased for 16 straight years after it entered the World Trade Organization in 2001. Past experience shows the Chinese enterprises' going out brings about win-win results to both China and the host countries in terms of economic growth and promoting economic restructuring.
Chinese enterprises participate in international competitions not to plunder the host countries' resources, but to seek common development through investment and production.
The host countries are being urged to take off their tinted spectacles causing bias and view Chinese enterprises and investment with a more open mind.
Chinese companies increase host country's tax revenue, income of local residents, improve the local consumption level and promote social stability. Chinese enterprises also promote industrial upgrading and the transformation of the local economic structure.
There is no reason for the countries to intentionally set up institutional obstacles and close their doors to Chinese enterprises.
(The author is a researcher with the China Enterprise Confederation. The article is translatedby Li Yang.)
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