There Are Still Challenges In The Process Of "Going Global", And Appropriate Policies Should Be Adopted.
< p > with the gradual pformation of the domestic economy and the increasing pressure on the value added of our foreign reserves, the advantages and necessity of "going out" are becoming increasingly prominent.
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Data released by < p > a href= "http://sjfzxm.com/news/index_q.asp" > Ministry of Commerce < /a > show that in July of this year, foreign direct investment of domestic investors increased by 20% over the same period last year.
Despite the remarkable growth, in many industry experts, the policy still has room for improvement in how to better guide, support and service enterprises to "go to sea". This will also largely determine the vitality and pformation of our economic development in the future.
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< p > < strong > continued growth of foreign investment < /strong > < /p >
According to the data released by the Ministry of Commerce on the 23 th day, 1-7 months ago, investors in China made direct investments in 3275 overseas enterprises in 156 countries and regions in the world, and realized a total non-financial direct investment of 50 billion 600 million US dollars, up 20% over the same period last year. P
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< p > data show that in 1-7 months, the mainland's investment in seven major economies of China, Hongkong, ASEAN, the European Union, Australia, the United States, Russia and Japan reached US $35 billion 700 million, accounting for 71% of China's total foreign direct investment in the same period, an increase of 76% over the same period last year.
Among them, investment in the United States, Australia, the European Union, ASEAN and Russia achieved 278%, 78%, 74%, 33% and 21% high growth respectively.
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< p > according to the Ministry of Commerce, nearly 90% of the investment flows to the five categories of business services, mining, wholesale and retail, construction and manufacturing, while investment in construction, scientific research, technological services and mining industry is growing exponentially.
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In the majority of the industry's view, the slowdown in China's economy is prompting companies to seek overseas development opportunities to boost their revenue performance, P.
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Shen Danyang, spokesman of the Ministry of Commerce, said: "the economic and social benefits achieved by Chinese enterprises through foreign investment cooperation have begun to appear, which further enhances the confidence of enterprises in investing abroad." P
At present, the visibility, influence and competitiveness of Chinese enterprises in the world are increasing significantly.
Under such a trend, we believe that China's foreign investment will continue to maintain rapid growth in the second half of this year.
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< p > < strong > there is still a challenge in the "going out" process of enterprises: < /strong > /p >
< p > reporter found through investigation and interview that although the phenomenon of "going to sea" by domestic enterprises is becoming more and more common, there are still some problems in the process of operation.
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< p > one is that the overseas investment strategy of enterprises is not clear.
Liu Yanlai, partner of PWC M & amp; m service department, believes that the main reason for the failure of overseas investment of Chinese enterprises lies in the lack of comprehensive strategic planning and business plan, and lack of awareness and experience in paction architecture design.
Enterprises should be clear about what they want to get from investments or mergers and acquisitions, and what kind of indicators to achieve are worth investing in so as to avoid blindly pursuing opportunities.
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< p > the second is that the enterprise management system is relatively backward.
Kong Fuan, deputy director of the Shanghai Municipal Commercial Commission's foreign trade and Economic Cooperation Department, admitted that domestic corporate culture usually overbased on organizational relationships, and lacked pparency in system and decision-making.
Therefore, our corporate culture and business models are still far from the international practice. This also leads to a low integration success rate of cross-border mergers and acquisitions.
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< p > Third, the ability of enterprises to adapt to foreign legal, regulatory, tax and political environment is still flawed.
Xia Xian en, partner of Covington burling's law firm, told reporters that in the case of cross-border mergers and acquisitions of Chinese enterprises, the sensitive issues most concerned by the United States include state ownership and control of enterprises, unauthorized technology pfer, state financing or subsidies, and activities and investments in sensitive countries.
However, few Chinese companies are equipped with internal legal institutions that are proficient in overseas strategies, national laws and regulatory systems, and are not very good at communicating with foreign media.
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< p > Fourth, it is the lack of control risk capability, overseas a href= "http://sjfzxm.com/news/index_cj.as" > investment < /a > Insurance underdevelopment.
Chen Gong, chief researcher of Ampang consulting, pointed out that although the probability of political risk is relatively low, the loss can not be estimated once it occurs.
For example, in the former Libya crisis, the coverage rate of Chinese enterprises was only 5.68% of the contract value, while the coverage rate of overseas investment reached 15% worldwide.
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< p > < strong > relevant policies should be appropriately added and subtraction < /strong > < /p >.
< p > in the eyes of many professionals and experts, if we want to pave the way for foreign investment in domestic enterprises, we still need to focus on "addition" and "subtraction" in terms of policy.
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< p > on the one hand, we should make additions to the construction of investment and financing platform.
Wang Jun, Vice Minister of consulting and Research Department of China International Economic Exchange Center, suggested that "SASAC can set up a company like CIC as an investment platform to select suitable projects from overseas investment plans of central enterprises or large state-owned enterprises, and directly inject foreign exchange reserves into capital to gain equity.
The capital injected into the form of foreign exchange must be directed into overseas investment projects, and foreign exchange is not allowed at home.
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< p > at the same time, we need to build a platform for small and medium-sized private enterprises to "go out" to provide financing.
The State Administration of foreign exchange can sign a special foreign exchange deposit agreement with commercial banks and lend to commercial banks certain scale foreign exchange special funds.
These commercial banks provide us dollar loans to SMEs in industrial upgrading, and support their "going out" to invest in mergers and acquisitions, develop resources and purchase technology.
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< p > in addition, subtraction should be made in terms of taxation.
Kong Fuan said that preferential tax preferences for overseas investments could be implemented in < a href= "http://sjfzxm.com/news/index_c.asp" > tax policy < /a > mainly including income tax concessions and tax preferences. Tax reduction, tax credit, tax extension, loss repatriation and added value tax system should be implemented, and overseas investment loss reserve system should be established. 7% of the overseas project management expenses or 25% of the large-scale joint venture investment should be included in the reserve and enjoy tax exemption. If the investment is impaired, compensation can be obtained from the reserve, and a delayed tax payment system for overseas investment is established, i.e., the foreign investment income that the company does not repatriate will not be taxed.
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