″Promotion of outward investment by the Chinese firms would be instrumental in making Chinese firms internationally competitive," said Arvind Mayaram, Vice President of World Association of Investment Promotion Agencies (WAIPA) at the Seminar on Overseas Investment by Chinese Enterprises, held yesterday afternoon at the Mandarin Seaside Hotel.

　　"For a long time, policy makers in most developing countries have believed that policies that increase the inward flow of FDI are adequate to deal with the issue of development. However, it is now established that in a global economy, the firms from developing countries must expand their areas of activities and become transnational corporations to remain competitive," Mayaram continued.

　　It is in this context that the seminar is vital and held right on time. With the further opening up and sustaining development of the national economy, China's status in the world is more dominant and the comprehensive power is stronger. This provided the safe guard and environment for China's enterprises to go global.

　　As a matter of fact, China's strategy of going global has achieved a lot. China founded 7,222 non-financial enterprises in more than 160 countries and regions by the end of this July. The contracted investment is US .79 billion and the Sino-investment has reached US billion.

　　Some Chinese enterprises, such as Sinopec, Huayuan and Haier, which have carried out multinational businesses, have obtained many satisfying effects. By going global, these companies have sharpened their competitive edge. Up to now, 39 Chinese companies have entered the world's 225 biggest contracted enterprises appointed by the America's Engineering News Record (ENR).

　　It should also be noted, however, that there could be some problems and difficulties in the beginning. The average scale of Chinese enterprises is small, lacking in capital and talent. In some enterprises, the management systems are incomplete and inefficient. Policies and laws supporting and safeguarding the strategy have not formed yet. Therefore, it becomes important for them to direct their recourses properly on their way to venturing abroad.

　　Despite the difficulties, the trend of Chinese companies going global is inevitable in the global economy today, according to Mr. Wu Xilin, Deputy Director General of the Dept. of International Economic Cooperation, Ministry of Commerce of PRC.