July 13, held by the State Councilor and organized by the Center For China & Globalization(CCG ), the 2017 annual meeting of “Chinese Enterprises Going Abroad 50 People Forum”was held in Beijing. HBIS CCP Chairman, Group Chairman Yu Yong attended the forum and delivered his speech. Yu Yong said globalization had given HBIS more room for development. Under the Belt & Road Initiative,the group has the confidence to go abroad and seek better opportunities . The world economy has opened a window for us and the Belt & Road Initiative, national “Going abroad”strategy had provided us with strong backup and support. It is the right time for the manufacturers to go abroad.
The discussion title of this year is “Joint Discussion, Joint Construction and Sharing-- The Going Abroad Strategy of Chinese Enterprises, Under the Belt & Road Initiative”. More than 200 representatives from government, think tanks and enterprises shared their opinions of “Future and Challenges of Manufacturers Going Abroad”, “How Financial Sector Could Lend a Hand to Chinese Enterprises While Going Out”and “Investment Route & Challenges Of Private Enterprises Going Abroad”. Focusing on historic opportunities of globalization of Chinese enterprises under the Belt & Road Initiative, the delegates setup their goals, planned for their future, shared their experiences. Facing their challenges, they discussed their theories and practices in their overseas investment and trade.
In the “Future and Challenges of Manufacturers Going Abroad” discussion, Yu Yong introduced the globalized development of HBIS and shared his experiences. He said the development strategy of an enterprise should be on the same track with the the national grand strategies. The overseas investments of HBIS is the actual need of its own development and a company behavior, well fit into national strategy. The Belt & Road Initiative has given strong support to HBIS in its globalization efforts and the government agencies and sovereign fund have provided firm assistance to HBIS. These agencies and funds have injected great energy to Chinese manufacturers and they are the advantages that their foreign partners don’t have. Facing the shifting international steel market and world’s overall economy, HBIS has been look for opportunities outside China. It has adopted a strategy of “Global Market, Global Resources and Global Clients”.Globalization has been given HBIS even more room to grow. With its overseas efforts, the group has owned projects in more than 30 countries. More importantly, HBIS is learning and gaining experiences in advanced economies and improving its technological and management abilities. All new knowledge of technologies and management have been used to improve the domestic sectors.
Yu Yong shared the practice and thinking of the group in its globalization efforts. Under the Belt & Road Initiative, HBIS felt the great competitiveness of Chinese manufacturers. The Chinese manufacturers are now mature enough to go abroad. The world economy is giving us a window of opportunity, the Belt & Road Initiative and national Going Abroad strategy are providing strong backup and supports to manufacturers. It is right time to do it! After decades of accumulation, the Chinese manufacturers, with confidence, now have the capabilities to compete with their foreign counterparts overseas. In our overseas investment practices, we need to pay great attention to the investment environment, their view towards investors, tolerance and attitude. We should utilize the welcoming environment to achieve our goals. HBIS has put the economic profit of the company and local social development high up on the strategic level and raised three principles of profit localization, personnel localization and culture localization.
Over the Going Abroad Advice, Yu said the Chinese enterprises should consider the allocation of full industrial chain when studying their overseas projects and improve their international competitiveness. No international deal is a clear cut one transaction of an enterprise. The community should learn to coordinate and complement their oversea endeavors. He advised all concerned company should take full advantages of domestic polices and the great assistance of government agencies providing.
The Chinese Enterprises Going Abroad, 50 People Forum was jointly launched by the Renowned Economist and State Councilor Lin Yifu and Tang Min in 2015. By inviting elites from political, business and academic communities to help the Chinese enterprises to grasp opportunities, face challenges and make a healthy development and push the Belt & Road Initiative forward.