Home>Top Issues

Globalization to continue with rising cross-border investment

Sunday,Oct 09, 2016

From: Xinhua

 

BEIJING, Sept. 20 (Xinhua) -- Globalization will continue to progress, despite shrinking global trade, as companies accelerate cross-border investment to widen their industrial reach, according to researchers.

As the development of science and technology continues to connect the world, and a rising middle class demands better products and services, globalization will not stop and trade will be revitalized, said Long Yongtu, chairman of the Center for China and Globalization (CCG) at a globalization conference.


Long, once the chief negotiator for China’s WTO accession, said that in essence globalization is created by companies investing overseas and the growth of multinational companies.

Global foreign direct investment grew 38 percent in 2015, due to cross-border mergers and acquisitions, the fastest growth since the financial crisis, according to the United Nations Conference on Trade and Development.

China has been a strong overseas investor in recent years. China recorded 118 billion U.S. dollars of non-financial outbound direct investment into about 6,000 companies in 160 countries and regions in the first eight months of the year, up 53.3-percent year on year, official data showed.

Twenty years ago, foreign investment in China benefited multinational companies and the Chinese economy, and it is time now for growing Chinese companies to invest overseas to move up the global industrial value chain, said Lu Jinyong, a professor with the University of International Business and Economics.

It is a natural process for companies to go global, but it is crucial to have sound support to offer financial and legal services in overseas investment, said Hu Yuandong, chief representative of the Investment Technology Promotion Office China at the United Nations Industrial Development Organization.

"It is about obeying global game rules and, more importantly, improving those rules," Hu added.

From Xinhua,2016-9-20

 

  • U.S. Seeks Import Duties on Chinese Aluminum Foil

    The U.S. said it would seek to impose duties on imports of aluminum foil from China, arguing that state subsidies for the domestic industry unfairly disadvantage American producers.

  • CCG’s “China Talent 50” Roundtable Forum Focuses on Grand Strategy for Talent Development

    Chinese private companies have become a main force in going global over the past two years. In 2014, private companies’ outbound investments saw a year-on-year growth of 295 percent.

  • Research institutes release G20 cyber trend report

    With this year’s G20 summit less than a week away, a group of research institutes from the Asia Pacific region have gathered in Beijing to discuss Internet trends in the world’s largest economies. Delegates also held talks on cyber space cooperation projects and ways to safeguard information online.

  • Sino-US Economic Relations & Free Trade

    The annual 3 days China Development Forum concluded in Beijing, in the Forum the economic relations between China and US were once again a major topic. The bilateral trade relation is great importance not only for the biggest economies in the world, but also playing a large part in shaping the future of global free trade and world economy.

  • Chu Yin:Will initiative help build a fairer world order?

    In the three years since Chinese President Xi Jinping proposed it, the Belt and Road Initiative (the Silk Road Economic Belt and 21st Century Maritime Silk Road) has attracted many countries aspiring for true win-win cooperation, as opposed to the West-centric globalization.