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China's private enterprises active in global division of labor

(People's Daily Online)

13:28, August 15, 2012

Recently, the National Development and Reform Commission (NDRC), together with 12 government departments under the State Council including the Ministry of Foreign Affairs, Ministry of Industry and Information Technology, jointly issued “The Implementing Opinions on Encouraging and Guiding Private Enterprises to Actively Develop Overseas Investment (The Opinions),” the first comprehensive policy document encouraging private enterprises to develop overseas investments.

The “Opinions” came up with 18 major measures with focus being placed on five aspects including the strengthening of macro-guidance and the perfection of policy support.

“Active participation” beginning to trend

According to the statistics published by the NDRC, national foreign direct investments totaled 382.3 billion U.S. dollars by the end of 2011, and a total of 65.1 billion U.S. dollars were invested in 132 countries and regions around the world in the same year, ranking first among developing countries. The total amount of foreign direct investments from 2005 to 2010 reached 228.92 billon U.S. dollars, an annual increase of 34.3 percent.

Like the introduction of foreign investment, investing abroad has become a keynote in China’s Reform and Opening-up Strategy.

After 30 years of reform and opening-up, it is time for China to speed up its “going out” strategy.

Zhang Yansheng, secretary-general of the Academic Committee of the NDRC, said that China participated in the globalization process passively at the beginning of its reform and opening-up, and after 30 years’ development, China has started to take initial actions to promote its global investment, production, marketing and services.

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