Experts discuss soft power of Chinese firms

By He Shan
0 Comment(s)Print E-mail, October 19, 2016
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Senior diplomat Wu Sike speaks at the  Peking University SOE Forum in Beijing on Tuesday.

The Peking University SOE Forum, held in Beijing on Tuesday, drew experts to consider how to foster the soft power of Chinese enterprises aiming to secure a foothold in overseas markets.

Speaking at the event, the second in a series, senior diplomat Wu Sike said that, as China's Belt and Road initiative goes down well with local people, how to raise the competitive edge of Chinese enterprises has become a key issue.

China has notched up a string of successes in foreign trade. It has become the second largest trading partner with Arab countries, with Egypt and Algeria acting as fulcrums along the "Belt and Road".

Currently, more than 100 Chinese enterprises have gained entry to the Fortune 500 list, compared with only three 20 years ago.

Wu pointed that China now looks to international cooperation in handling industrial capacity, and is keen to export its advantageous, advanced and green capacity to other countires.

He advised Chinese enterprises to combine industrial activities and the internet to devise a smarter competition strategy for the future.

Ding Gang, senior advisor to the newspaper Global Times, delivers a speech at the Peking University SOE Forum in Beijing on Tuesday.  

Ding Gang, senior advisor to the newspaper Global Times, maintained the greatest soft power Chinese enterprises possess is an ability to ride the tide to pursue win-win development.

He believed "going global" was the name of the game for Chinese enterprises as their involvement in overseas markets picks up steam.

He cited a Chinese investment in Peru as a good example. Aluminum Corporation of China Ltd. (CHALCO) bought a copper ore mine in the country and introduced the newest technology to exploit it while handling environmental and relocation issues very well; this offered a good example for other companies to follow.

He also recounted the story of Zhang Mingfeng, a 45-year-old female worker in an apparel factory in Tanzania. She learned Swahili by herself and offered hands-on training to local workers. She is just one of thousands of Chinese people dedicated to African development.

Ding suggested that Chinese companies should pay more attention to branding and long-term strategy as the key to the future development of Chinese companies.

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