The 18th Forum of ‘Going Global’ Strategy for Chinese Enterprises is held in the Great Hall of the People in Beijing on Dec 8. (Photo: chinadaily.com.cn)

The 18th Forum of the ‘Going Global’ Strategy for Chinese Enterprises, co-hosted by the Western Returned Scholars Association (WRSA) and China Overseas-Educated Scholars Development Foundation (COSDF), kicked off in Beijing on Dec 8.

Guests discussed how Chinese enterprises can participate in the international cooperation created by the Belt and Road Initiative and further increase openness to the outside market.

Vice-chairman of China Center for International Economic Exchanges (CCIEE), Huang Qifan, pointed out that since the 18th National Congress of the Communist Party of China, five changes have taken place in the pattern of China's opening up. It has moved from export-oriented trade to trade which encourages both imports and exports; from foreign capital introduction to encouraging foreign investment and "going global" investment; from coastal areas’ opening up first to national opening up; from focusing on industrial and commercial opening up to an all-side, multi-channel and wide-field opening up; from Chinese enterprises adopting international market rules to making the rules.

COSDF Chairman Cao Weizhou said that Chinese companies should cooperate with local enterprises along the Belt and Road on an equal footing and achieve mutual benefit and win-win results. While expanding business overseas, those companies should actively take on social responsibilities, and share business opportunities and results with partners to improve the quality and level of "going global".

WRSA’s Deputy Secretary-general Cheng Hongming issued a reminder that Chinese enterprises should fully understand the coexistence of risks and opportunities in the process of “going global” and take precautions against various risks in advance.

The relationship between cooperation and competition should be handled properly. Students abroad should become a bridge for communication and cooperation between "going global" companies and their international partners, Cheng added.

“SMEs are an important new force in China-Africa economic and trade cooperation”, said Shi Jiyang, CEO of China-Africa Development Fund.

Shi said that SMEs participating in the “Belt and Road” construction and investment in Africa should innovate cooperation models, accelerate transformation and upgrading, strengthen tripartite cooperation and compliance operations, maintain relationships with local governments, communities, and media, fulfill social responsibilities, and enhance corporate image and sustainable development capabilities.

Over 700 guests from overseas and domestic attended the forum.