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People's Daily Online>>China Business

Government should help domestic companies 'go global'

By Li Zhenyu (People's Daily Online)

15:17, March 14, 2012

Liu Kegu, a CPPCC member and advisor at China Development Bank (People's Daily Online/Li Zhenyu)

Beijing, March 14 -- Chinese Premier Wen Jiabao delivered in the government work report that China will continue to implement the "going global" strategy, which has aroused heated discussions among deputies to the two sessions of the National People's Congress (NPC) and Chinese People's Political Consultative Conference (CPPCC).

Liu Kegu, a CPPCC member and advisor at China Development Bank, said in an interview with People's Daily Online that the country should upgrade the strategy to the national level, and establish a unified coordination mechanism.

Liu noted that major economic structural adjustments and system reforms are often carried out under strong internal and external pressure. Facing increasingly serious structural economic problems, China should take advantage of the new opportunities brought about by external economic changes to carry out structural adjustments and system reforms. In the context of economic globalization, the "going global" strategy, which encourages domestic companies to actively expand internationally, will promote the major structural adjustments and system reforms.

"Along with the downgrade of the U.S. credit rating and deterioration of the European sovereign debt crisis, the world economy is entering a long period of slow growth, with certain countries falling into a mild recession," Liu said. "Certain developed countries are unable to continue as heavy investment in mineral resources and high technology as before, offering us a rare opportunity."

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