Representatives of 15 enterprises including five state-owned ones and 10 private ones will join a business delegation accompanying China's President Xi Jinping in his state visit to the U.S.
These 15 enterprises are in industry of information technology, finance, food, manufacture, logistics, construction, energy, chemical engineering and household appliances. According to Beijing Youth Daily, the total market value of these enterprises is around USD 1.2 trillion, equivalent to 1/8 of China's GDP in 2014.
How were these enterprises selected?
Commons in China-U.S. trade cooperation and strategies of internationalization and influences of the Chinese enterprises are major criteria for the selection, according to Zheng Gang, an expert on the internationalization of Chinese enterprises.
The five state-owned enterprises are China Ocean Shipping (Group) Company, China State Construction Engineering Corporation, Bank of China, Industrial and Commercial Bank of China and Tianjin Pipe (Group) Corporation.
Lenovo Group’s acquisition of IBM's Personal Computing Division' means the two countries have commons in high-tech cooperation. Furthermore, the ICBC and Bank of China intend to carry out their businesses in the U.S.
Authorities' opinions are of high importance. Furthermore, the intentions and strategies of enterprises are also important, Zheng mentioned.
"Whether the enterprise is willing to cooperate with the U.S. and develop in the U.S. accounts a lot," Zheng said.
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