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Chinese companies must improve investment ability on overseas market
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14:41, August 25, 2009

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China's outbound investment to exceed FDI for first time in 2009

Chinese enterprises have made great progress in "going global" over the past couple of years, but at present, their foreign investment demand and ability are unbalanced. A lack of talented personnel and experience remains an important factor restricting Chinese enterprises "going global."

Chinese enterprises set up 445 companies on the overseas market in the first quarter of 2009 and China's overseas direct investment is expected to exceed foreign direct investment in China for the first time in 2009.

The biggest challenge facing Chinese enterprises "going global" is still a lack of experience in international operations, which includes understanding of local markets, laws and culture, said Yao Jian, spokesperson for the Ministry of Commerce (MOFCOM).

Last year, the MOFCOM published the Administrative Regulation on Contracting Foreign Projects. This year, it will formulate two regulations, an administrative regulation on foreign cooperation of labor service, which may be published before the end of the year; and a regulation on overseas investment cooperation, which will be introduced soon.

At present, China has established bilateral economic and trade consultation mechanisms with over 100 countries and regions in the world and signed 127 bilateral investment protection agreements.

China is negotiating free trade zone agreements with some countries, and has already signed intergovernmental agreements to strengthen mutually beneficial cooperation with over 20 countries and regions.

China has also compiled a Foreign Market Access Report, a Guidance Catalogue of Countries and Industries for Overseas Investment, and a Guidance Catalogue of Countries and Industries for Contracting Foreign Projects among others.

This year, China will publish foreign investment cooperation country guides, which will contain a description of the investment and operation environment of each country, including laws, local customs and some specific areas of focus.

By People's Daily Online

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