Going Global strategy kicks off new round of opening up

Muhammad Zamir Assadi

21st Century Maritime Silk Road Forum on International Communication and Chinese (Guangdong) Companies Going Global, held in Zhuhai has opened and strengthen the ways of enhancing the cooperation between provincial and the foreign enterprises located along Belt and Road countries.

Guangdong province, which always takes the lead being the 1st province of implementing the opening up and reform policies from Shenzhen has significantly drawn the attention of enterprises from Belt and Road member countries.

The forum which was attended by hundreds of business leaders, academics, think tanks, government officials, media minds and start-ups have shown the importance of close relationship and the potential of provincial companies planning to invest under “going global” strategy.

The strategy has injected an impetus to investment plans of Chinese companies in the areas of investment, technology, infrastructure, power generation, foreign trade, medicine, education, tourism and culture etc.

The 19th National Congress report delivered by general secretary of Communist party of China (CPC), also the president of China Xi Jinping included the important dimension about of the strategy which mentions “China should pursue the Belt and Road Initiative (BRI) as a priority, give equal emphasis to “bringing in” and “going global”, follow the principle of achieving shared growth through discussion and collaboration, and increase openness and cooperation in building innovation capacity”.

The participants belonging to various countries and having enormous business approaches believed that a key strategic decision made by Chinese government about BRI represents an important move of the country to kick off a new round of opening-up efforts.

China’s opening-up to the world road in the new era does not only mean that the Chinese companies are cultivating the benefits of “going global” strategy buy it also includes another important component “bringing in”.

The policy comprehensively demonstrates the ways and explores the opportunities for the local and global companies to enhance their working relationship for the well-being of masses and contributing the role in import and export in respective countries.

On one side, it was a significant opportunity for Guangdong companies to show case its potential in innovative development ranging to various sectors, and to read the minds of international market.

On the other side, it was an important activity of interaction and exchange of ideas in the field of innovative development in the rapidly changing world to create more opportunities of collaboration.

The forum highlighted the fact that over the past few years, Guangdong has been actively responding to the BRI by releasing a series of policies and guiding documents.

It includes the priority topics including infrastructural development, optimizing regional investment distribution, facilitating international capacity cooperation, accelerating construction of overseas economy and trade cooperation zones.

These guiding principles were also helping in driving cultural and educational exchanges and cooperation.

The enterprises in Guangdong are mobilized to take part in Belt and Road building in all-round dimensions, pushing forward in-depth cooperation in areas of trade, investment, traffic facilities, cultural exchanges, tourism and marine economy with participating countries.

At the eveent, information office of the people’s government of Guangdong province, research center of state owned assets supervision and administration commission of the state council of China and Guanghua Commission of the state council of China released detailed report depicting actions, practices and relevant achievements of enterprises in the province under the BRI.

The report explains the work by Guangdong in encouraging local enterprises to actively respond to this great initiative to participate in construction efforts as well as various practices of enterprises in the province.

The data of report showed that, total trade volume of Guangdong province with countries along the Belt and Road reached $ 199.56 billion in 2016.

The value of imports and exports of the province with countries along Belt and Road reached $ 1067.

The report states that Guangdong Silk Road Fund was set up in 2016 with fiscal capital of 2 billion Yuan which has touched to 20 billion Yuan and became the first local version of Silk Road Fund in China.

The keen interest of the foreign enterprises in the event showed that Guangdong has made every effort to establish a new pattern of opening to the outside world with Belt and Road as its focus.

The province, as the first window of reform and opening up and forerunner of innovative strategies enjoys a close economic ties with the rest of the world and superior geographic condition.

The outcome of the forum was very significant which points out that Guangdong places high importance on close scientific and technological cooperation with the countries and regions along Belt and Road, establishing international technical cooperation systems and mechanisms that are in line with international high standards.