BEIJING, Apr. 19 (Xinhua) -- The Overseas Chinese Business Roundtable of Boao Forum for Asia (BFA) Annual Conference 2018 was held on April 9, which gathered 28 overseas Chinese business leaders and 7 think-tank experts in the town of Boao.
The experts and overseas Chinese business leaders said that overseas Chinese has played an important role in China's reform and opening-up over the past 40 years. Entering the new era, overseas Chinese merchants should grasp the opportunity to make new contributions to the Belt and Road construction, and the construction of a community of shared destiny.
--"First pot of gold" for the reform and opening-up
Overseas Chinese merchants have always been an important force in China's reform and opening-up.
"When foreign countries held a skeptical and wait-and-see attitude towards the Chinese market, overseas Chinese moved into action first, resolutely returned to China with capital and technologies, and joined the creation of the experimental field for the reform and opening-up," said Hui Wing Mau, Chairman of the Shimao Group.
In the early days of the reform and opening-up, overseas Chinese invested in China first, contributed the "first pot of gold" to the reform and opening-up, drove foreign investment in China and the development of China's export-oriented economy, and helped Chinese enterprises build international sales network, said Wang Huiyao, an expert consultant at the Overseas Chinese Affairs Office of the State Council and Director of the Center for China and Globalization.
Over the past 40 years, overseas Chinese merchants have always been the main force of foreign investment in China from coastal special economic zones to the mainland. According to statistics, overseas Chinese's investment accounts for more than 70 percent of foreign investment in China.
As the largest foreign investor in China, Charoen Pokphand Group has invested more than 10 billion U.S. dollars in China. As the initiator of Overseas Chinese Business Roundtable, Senior Chairman of Charoen Pokphand Group Dhanin Chearavanont said that overseas Chinese merchants should make new contributions to China's economy through persistent innovation.
-- Overseas Chinese merchants lead Chinese enterprises out
At the roundtable meeting, many participants said that unlike before when overseas Chinese returned to China for investment, now overseas Chinese are leading Chinese enterprises out.
"Overseas Chinese, who know both China and foreign countries well, have social network and speak several languages, enjoy overwhelming advantages," said Xu Yousheng, Vice Minister of Overseas Chinese Affairs Office of the State Council.
Xu called on overseas Chinese industry and commerce groups to establish the Belt and Road information service center, to help Chinese enterprises integrate into local business environment better and develop abroad better. "Overseas Chinese merchants should strengthen cooperation with Chinese enterprises, and serve as 'both matchmakers and brides'," he added.
"Chinese enterprises are facing information asymmetry and other problems. As a bridge linking China to the world, overseas Chinese merchants can organize overseas Chinese experienced in enterprise management to share experience with and train heads of Chinese enterprises," said Hui Wing Mau.
-- Serving as "liaisons" for B&R construction
B&R construction has created a broad development opportunity and platform for overseas Chinese.
According to statistics, China's total imports and exports with Belt and Road countries reached 1.1 trillion U.S. dollars, up 14.8 percent. According to a joint research conducted by the Asian Development Bank, the United Nations Economic and Social Commission for Asia and the Pacific and the United Nations Development Programme, infrastructural investment demand is estimated at 8.3 trillion U.S. dollars in Asia-Pacific region alone from 2010 to 2020, about 750 billion U.S. dollars annually.
"Most of these infrastructural investments are in Belt and Road countries and regions," said Li Hongjie, a consultant at the Overseas Chinese Affairs Office of the State Council and Party Secretary of the Fujian Academy of Social Sciences. There are nearly 4 million professions among overseas Chinese and most of them are in Belt and Road countries and regions.
"Overseas Chinese are familiar with the cultural background and differences of the countries of their residence and are important participants in local economic development, therefore they can help to boost the overseas investment capacity of Chinese enterprises," said him.
RGE Group from Singapore is a transnational industrial group with an investment of more than 50 billion yuan in China. Chairman of RGE Sukanto Tanoto said overseas Chinese should take advantage of the broad platform created by the Belt and Road Initiative for Chinese, serve as "liaisons" for B&R construction with pioneer spirit, and make new contributions to China's full wider opening to the outside world.
To boost the role of overseas Chinese merchants in B&R construction, Tong Jisheng, Party Secretary and Chairman of Orient International (Holding) Co., Ltd. suggested establishing overseas Chinese investment and trade information network as a new communication channel for Chinese enterprises and overseas Chinese merchants, and setting up mechanisms and platforms such as Chinese development fund and Belt and Road construction consultation platform.
(Edited by Yang Qi, kateqiyang@xinhua.org)
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