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Non-State companies venture abroad in increasing numbers

(China Daily)

08:20, October 31, 2011

ZHUHAI, Guangdong - A rising number of Chinese non-State companies are preparing to invest abroad, relying on a combination of innovation and manufacturing strength.

Some top non-State companies exchanged views on their "go global" strategies in Zhuhai, Guangdong province, over the weekend.

"Chinese companies should not only serve the domestic market but should go to the world," said Dong Mingzhu, president of electronic appliance giant Gree Electric Appliances Inc.

Gree previously exported air conditioners to the United States mainly through original equipment manufacturing arrangements, but now it has a branch in that country to promote its own-brand products.

"We should not go to a foreign country merely to make money but also to win the respect of the local community by making contributions to the local economy."

Given their flexibility relative to other types of companies, non-State companies have the largest opportunity to benefit from globalization, said Xu Jingnan, chairman of Peak Sport Products Co.

"China has become the world's second-largest economy. Going global is a natural choice."

Peak has been able to utilize global resources at a low cost in promoting its brand overseas by sponsoring sports events.

Feng Jun, president of Aigo Digital Technology Co, one of China's biggest digital equipment makers, forecast substantial growth in non-State companies' moves to go global next year.

Those companies should create a win-win situation, in which they create jobs and pay taxes in foreign countries and at the same time, enable their brand building to become healthier and more sustainable.

More than 420 Chinese firms have invested in Britain and the number is "growing fast", said Alastair Morgan, consul-general of the British Consulate-General in Guangzhou.

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