China Going Global (CGG) Forum is a leading project under LC Venture. The Forum was launched in 2017 to respond to the ever-increased vigour of Chinese enterprises to go abroad and the burgeoning Chinese investments in outbound FDI.
According to the Ministry of Commerce (MOFCOM), in 2018 alone Chinese reported outward FDI was a wapping US 129.83 Bn, up by 4.2% from the previous year. The leasing and commercial services industry made up the majority of these investments sitting at 37%. These investments were done through M&A and various cooperation vehicles including joint – venture.
The local enterprises, that mainly comprise SMEs, made the majority of these investments with US$ 83.43 Bn, 11.3% higher from the year before. The Ministry of Commerce approved a reported 8786 contracts by local enterprises.
The government has also renewed its commitment to support outbound investment by strengthening policies at home and working with the governments of the host countries to improve their business environment.
“Belt and Road”
Investment and cooperation along the Belt and Road routes are also being promoted steadily. According the same report from MOFCOM, the non-financial direct investment by Chinese enterprises in 56 countries along the Belt and Road routes reached US$ 15.64 billion, up 8.9% year on year, accounting for 13% of the total volume in the same period. The completed turnover of the foreign contractual projects in 63 countries along the Belt and Road routes also reached US$ 89.33 billion, taking up 52% of the total volume in the same period.
China Going Global (CGG) Forum
In response to these trends and statistics, the Forum has been instrumental in helping Chinese and foreign members explore opportunities along the Belt and Road Initiative (BRI) countries and regions.
The goal of the Forum was to create a platform to assist Chinese businesses to go global and foreign companies expand to China. The Forum also functions as a bridge linking the East and the West, offering consultancy services on the best business practices to utilise the huge business opportunities created under the Belt and Road Initiative (BRI). The forum currently serves a growing number of core Chinese and international subscribers from the UK, the US, Europe and South-East Asia.
The Forum also organises events conducted in partnership with sister organisations aimed at discussing new regulations and policies, business opportunities and global perspectives. They are also an excellent source of information from business and policy analysts based in China and globally. These events generate large interest in attendees and speakers, media cover and provide excellent networking opportunities. To View our recent activities, follow the link here.
CGG Forum and SMEs
Although we have significant multinationals like DiDi and Ping An Bank in our list of core membership, the Forum mainly targets SMEs. With Over 80% of the subscribers being SMEs, the Forum has recently aimed its activities towards supporting SMEs.
In response to the work that we are doing, CGG has been recognised by the SME framework of the Asia-Pacific Economic Cooperation (APEC) Ministerial Council for its support of work of SMEs in China and its work has also been endorsed by the China Center for Promotion of SME Development (CCP) and China International Cooperation Association of SMEs (CICA), two major Chinese government agencies dealing directly with Chinese SMEs. The forum continues to expand its services to incorporate SMEs in South East and Greater Asia.
The Forum has not also limited itself to assisting Chinese firms and has also launched service line easing foreign firms access to the Chinese market by setting up communication and B2B discussions and networking opportunities.
The Forum’s activities are managed by its executive board. It also draws from the deeply professional and global experiences of its staff and executives. The Board and the staff of the Forum comprise of exceptional individuals ready to service the members. With over 30 nationalities represented, the Board regards this diversity key to its success
as it aims to assist members to go global. This Forum draws from the deep professional and global experiences of its staff and executives to ensures the quality of its services to be able to fully support our global membership and
their engagement in business in China and beyond.
The coming year will be interesting to see how the existing challenges and opportunities of doing business in China with the US-China trade relations and the prospects of a contracting economy will playout. Besides, with China’s New Foreign Investment Law (FIL) scheduled to be effective Jan. 1, 2020 CGG is working tirelessly to be the first port of call for its base of subscribers and clients alike.
Subscribe to China Going Global (CGG) Forum today!
