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The Ministry of Commerce Plans to Cultivate a Batch of Multinational Corporations with Global Influence
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 The Ministry of Commerce Plans to Cultivate a Batch of Multinational Corporations with Global Influence
The new edition of the Guidelines for Safety Management for Overseas Chinese-funded Enterprises, Organizations and Personnel was issued
  The Ministry of Commerce is going to cultivate a batch of multinational corporations with global influence
On March 21, Han Yong, commercial counselor of the Department of Outward Investment and Economic Cooperation of the Ministry of Commerce revealed that this year the Ministry of Commerce will launch an innovation action plan for outward investment and cultivate a batch of multinational corporations with global influence. Han Yong shared the information at the launch conference for the new edition of the Guidelines for Safety Management for Overseas Chinese-funded Enterprises, Organizations and Personnel. The conference was co-organized by the Department of Outward Investment and Economic Cooperation of the Ministry of Commerce and China International Contractors Association.
  Overseas Chinese-funded enterprises might encounter various political, economic, commercial and legal risks in the investment projects. Han Yong said that enterprises therefore should fully take stock of these risks and the possible impacts on the enterprises, systematically plan and propose pre-arranged measures, and comprehensively employ various resources to mitigate the risks. He pointed out that a survey carried out by the Ministry of Commerce last year indicated that the overseas Chinese-invested enterprises enjoy a relatively good security protection and the majority of the enterprises are doing well in such aspects as institution design, staffing, supporting facility and contingency management. However, there are also some enterprises facing inadequate security, unsound contingency plans, ambiguous or inefficient implementation of accountability. 
       It is known that the first edition of the Guidelines for Safety Management for Overseas Chinese-funded Enterprises, Organizations and Personnel was formulated in 2011 and was China’s first guiding document concerning the security and risk management for Chinese enterprises that “go global”. The new edition of the Guidelines fully absorbs advanced safety management theories in the world, and puts forward concrete measures tailored for various non-traditional security risks overseas. Compared with the previous Guidelines, the new edition has added contents such as overseas safety management institutional guarantee and emergency contingent handling procedures, which has common compatibility, strong relevance and forward-looking guidance to some extent.
      What merits notice is that Han Yong particularly pointed out at the launch conference that the Ministry of Commerce will implement the innovation action plan for outward investment this year, cultivate a batch of multinational corporations with international reputation and influence, and build China’s investment brands. He believed that only by making our enterprises and overseas projects larger and stronger can we provide effective support for overseas interest protection. 
    With regard to this, Pang Chaoran, associate researcher of Chinese Academy of International Trade and Economic Cooperation of the Ministry of Commerce, expressed in the interview with the journalist of Economic Information Daily that it is pointed out in the 13th Five-Year Plan of the Ministry of Commerce that “the cultivation of a batch of multinational corporations with relatively strong competitiveness should be accelerated”. Currently, Chinese enterprises are facing a critical period of transformation and upgrading with their positions at the global value chain being constantly elevated and moving towards high value-added direction. The number and size of China’s multinational corporations will continue to grow, matching China’s economic aggregate and global influence.     
    Pang Chaoran believed that making our overseas projects larger and stronger can further promote the collaborative development of the two markets and two resources, allow the overseas investment to serve the real economy at home, and strengthen overall economic strength. To this end, the Ministry of Commerce has launched a series of policy documents, including regulating the enterprises’ oversea investment behaviors, establishing outward investment reporting system, advancing the reform to delegate power, streamline administration and optimize government services, improving investment statistics monitoring and supervision throughout the process, and reinforcing security overseas risk prevention.

Source: Economic Information Daily

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