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China's positive energy (II): Booming itself and contributing to the world

(People's Daily Online)

12:05, November 11, 2012

China's positive energy (I): Booming itself and contributing to the world 中国贡献,和平发展正能量(辉煌10年)

"A power failure in Shenzhen and its surrounding areas would cause fluctuations in the prices of electronic products worldwide."

Rui Xiaowu, a deputy to the 18th CPC National Congress and chairman of China Electronics Corporation, made the above remarks, adding that China has become a global manufacturing center, and made great contributions to the world over the past decade.

Thanks to China's great production capacity, people across the globe can enjoy the fruits of modern scientific development in an increasingly favorable price-to-performance ratio.

Chinese companies have actively conducted overseas expansion in a down-to-earth manner under the guidance of the government's "going global" strategy. They accelerated overseas expansion in 2011, increasing the country’s annual outbound direct investment in non-financial sectors to 60.1 billion U.S. dollars. Many Chinese companies such as Huawei and Lenovo have continued to increase foreign investment and established research and development centers abroad.

These companies have hired many local workers. A project between China's Cosco Group and the U.S. Port of Boson not only saved 9,000 maritime transportation-related jobs, but also created 26,000 new jobs in the seaport.

Six China-Africa economic and trade cooperation areas have been built or are under construction in five African countries. So far, about 18,000 Chinese companies have made overseas investment and their footprints can be found all over the world.

Chinese companies have achieved a record number of 207 overseas merger-and-acquisition deals in 2011, up 10 percent from the previous year, and the total value of these deals increased to 42.9 billion U.S. dollars with a year-on-year growth of 12 percent, according to PricewaterhouseCoopers.

In the process of "going global", Chinese companies have not only expanded their own growth space, but also attached great importance to the projects that can help underdeveloped countries improve the people’s living standards and develop independent development capabilities. Chinese companies have shouldered their social responsibilities, and set a good example for South-South Cooperation.

Read the Chinese version: 中国正能量(二):繁荣自身,回馈世界; Source: People's Daily Editon; Author: Liu Huaxin, Li Feng and Wu YueJun Most viewed commentaries

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