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BIZCHINA / Review & Analysis
Gov't can help investors overseas more
By Jiang Wei (China Daily)
Updated: 2007-08-03 11:27
The Chinese government can provide more help to overseas Chinese
investors who often find themselves hamstrung when trying to invest
abroad, experts say.
China's outward direct investment totaled $16.1 billion in 2006, up 31.6
per cent over the previous year, according to Ministry of Commerce
statistics.
When they try to invest abroad, Chinese enterprises lack a network of
people and sales channels, knowledge about the local market and
communication, Wu Jianmin, president of China Foreign Affairs University,
told China Daily.
"They need help from diplomatic resources," Wu said.
"Diplomatic resources" refers to a wide range of people and institutions
that could provide Chinese investors with knowledge of local markets.
The resources include China's embassies in the investment destinations,
scholars, and retired diplomats and officials with a good command of the
country.
For example, an investor might find it very difficult to get in touch
with key officials in a country when he intends to invest, Wu said. "But
diplomatic resources can easily help them find the right person."
"We lag behind by countries such as the United States (in terms of
helping enterprises' outward investing)," he said.
The Chinese government will encourage and help qualified enterprises to
invest abroad, Vice Commerce Minister Liao Xiaoqi told the East Asia
investment forum in Beijing. A main measure is to establish overseas
economic cooperation zones, which both accelerate Chinese investors'
"going out" and benefit local industrial clusters.
(For more biz stories, please visit Industry Updates)
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