BEIJING, March 26 (Xinhua) -- Chinese enterprises should comply more with international rules and use market forces when taking on Belt and Road (B&R) projects, according to Zhang Shenfeng, vice chairman with China Council for the Promotion of International Trade (CCPIT) during the 2019 Wan Li Think Tank Spring Convention on Sunday in Beijing.
In the meantime, companies that go overseas should well understand local laws and regulation, business environment as well as culture and customs. Keeping abreast of political situations as well as market demand is also key to the smooth progress of overseas projects, according to Zhang, quoted by China Securities Journal in a report.
The government, on the other hand, should provide macro guidance, build communication mechanism with countries and regions along the B&R routes while advance negotiations over trade and taxes, said Zhang.
Chinese enterprises, particularly, should equip themselves with innovation capability in areas such as science and technology advancement as well as system innovation, according to Wu Xiaoqiu, vice president with Renmin University of China. (Edited by Niu Huizhe, niuhuizhe@xinhua.org)
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