World should show more tolerance to Chinese companies: expert

08:54, November 04, 2010      

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At a forum held at the second China Overseas Investment Fair, Huang Xingyuan, secretary general of the Chinese People's Institute of Foreign Affairs, called for the global community to be more tolerant on their ever-increasing requirements for China's foreign investment in their respective countries.

According to him, on one hand, many countries crave for a wider scope in foreign investment in their lands, while on the other hand, they adopt certain protectionism toward Chinese companies who venture out for their lot.

He mentioned also that China's current situation, including weak and unbalanced development basis and so on, need to be given understanding by the international community.

Huang also said that Chinese companies should learn from examples set by Japan and Korea: goinOg out and overcoming cultural barriers as well as adapting to local environments, thus, winning the trust from governments and the public when expanding in the overseas market.

Mario Amano, deputy secretary general of Organization for Economic Co-operation and Development (OECD), said that the risk of protectionism is always lingering. According to him, international investment by China and other emerging economies opens new investment opportunities and creates jobs. Many companies at the OECD now are faced with a shrinking market at home, and a partnership with emerging investors will be of great value.

"However, new investors are not always welcomed in the marketplace. There have been national security concerns that sovereign wealth funds and foreign government-controlled investors chould be motivated politically rather than commercially. Additional concerns have been expressed regarding unfair competition and even disrespect for international norms with respect to labor and human rights," Amano said during the speech.

Source: Global Times


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