BEIJING -- Chinese enterprises' weak soft power have already become a bottleneck to hinder advancement of projects under the Belt and Road Initiative, said Chen Xiaobin, general manager of the Xinhua Silk Road Information Department under the China Economic Information Service, at the recent 2016 Boao Forum for Entrepreneurs.
Due to pressure from public opinions, some Chinese enterprises' investment projects, like copper mines, hydropower stations and high-speed railways, were set aside or halted, leading to huge losses. The weak international communication ability and the lack of soft power, such as local cultural communication and public opinion guiding, have affected progress of the "Belt and Road" construction, said Chen.
In addition, some "Going Global" enterprises have the poor awareness of crisis public relations and are easily "kidnapped" by the public opinions. Those enterprises only attach great importance to the communication with the local governments, but pay less attention to early preparations, like evaluation on the local cultural background and relation maintenance with the non-governmental organizations. Those are important sources of risks for overseas investments of the Chinese enterprises, Chen added.
In order to reduce investment risks of the Chinese enterprises, reduce misunderstanding and criticism in host countries, and enhance localization of the enterprises, Chen suggested the Chinese enterprises follow principles below.
First, they should strengthen cultural inclusion. The Chinese enterprises should pay more attention to their words and deeds, respect the local institutional choice, laws and regulations, morale and convention, and cultural tradition, focus on their rational interest appeals, and show the sincerity of peaceful and cooperative development.
Second, they should improve communication ability. The Chinese enterprises should abandon the tradition of "work more and talk less", and invite personnel from the local governments and enterprises to participate in activities, give interviews to local mainstream media and help the foreigners change their misunderstanding of the Chinese policies and prejudice against the Chinese enterprises.
Third, they should strengthen professional investigations. The Chinese enterprises should have accurate understanding of the local investment environment, strengthen predictions on the local political situation, and rationally evaluate the risk and hidden danger, and take measures to hedge risks.
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