A merchant promotes products via livestreaming at Yiwu International Trade City in Yiwu, east China's Zhejiang Province, April 8, 2020. (Xinhua/Lyu Bin)
BEIJING, Oct. 26 (Xinhua) -- East China's Zhejiang Province will speed up the cultivation of local private multinational companies, according to a three-year action plan released on last Friday.
The province will strive to cultivate five world-leading companies with strong international competitiveness, brand influence, global presence and high-ranking position in value chain and transnational operation index by 2022, said the action plan.
Meanwhile, Zhejiang will grow the second batch of 30 local private multinational companies. Leading enterprises, start-ups with great growth potential and hidden champions in digital economic fields such as cloud computing, big data, artificial intelligence, digital security, e-commerce as well as bio-medicine, high-end medical devices and other bio-medical areas will be the focus of cultivation.
The action plan required Zhejiang to give full play to the role of local private multinational companies in its opening up, and encouraged such companies to actively participate in the construction of the Belt and Road (B&R) by crafting typical projects.
Zhejiang will guide local private multinational enterprises to engage in overseas investment and cooperation, and build a new service system for the companies, said Sheng Qiuping, director of the Department of Commerce of Zhejiang Province.
In 2017, Zhejiang took the lead in China in introducing a three-year action plan for the cultivation of local private multinational companies. Ever since then, leading private enterprises in the province have won great support to grow stronger. (Edited by Su Dan with Xinhua Silk Road, sudan@xinhua.org)
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