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Wang Huiyao: Chinese Enterprises are Committed to Globalization

Source: www.news.cn Date: 2016-12-13

Director of CCG and Counsellor of the State Council Wang Huiyao spoke at the conference.
 
The third Conference of China’s Outbound Forum, co-organized by CCG and the People’s Government of Sanya, was held in Sanya on December 2nd. Wang Huiyao, Counsellor of the State Council and Director of CCG, said in this address that the world economy is still in a period of uncertainties and that Chinese companies will play a more proactive role in globalization.

Wang believes that China is an indispensable part of globalization and Chinese companies are an important force in China’s involvement in economic globalization, as demonstrated by the following three features.

First, China’s outbound investment has exceeded inbound FDI, making China a net exporter of capital. This is a new transitioning point in China’s involvement in globalization.

Second, China’s outbound investment has exceeded that of Japan for the first time, ranking 2nd in the world. This is a milestone event as much as China surpassed Japan in GDP.

Third, Chinese investment in the US has exceeded US investment in China. This is a sign of the accelerated pace of Chinese companies’ involvement in globalization. China has become an active promoter and firm defender of globalization.

According to Wang, anti-globalization sentiments are on the rise globally. Trade protectionism is gaining traction. On the other hand, a new round of scientific and technological revolution is in the making. The global competition for talents is increasingly intense. Economic globalization has come to a critical juncture. This brings opportunities and challenges to China and Chinese companies as they participate in globalization, and calls for China’s deeper involvement in global governance.