Chairman Zhang Xiangyang Attends the Symposium on In-depth Economic and Trade Cooperation between China and Africa Hosted by the Counselor’s Office of the State Council
Release Date:
2023-06-02
Qiu Jin, Special Research Fellow at the Counselor’s Office of the State Council and former Deputy Minister of State Security, led a research delegation to Nantong to conduct an inquiry into deep economic and trade cooperation between China and Africa. Following on-site visits to relevant enterprises, a symposium on this topic was held on the morning of May 23 in the Jinghai Hall of the Nantong Riverside Conference Center. The symposium was attended by Ling Yi, Vice Mayor of the Nantong Municipal People’s Government, leaders of relevant departments, representatives from several “going global” enterprises, and heads of the Jiangsu (Nantong) Chamber of Commerce in Africa. Zhang Xiangyang, Chairman of the company, also attended the symposium and delivered a speech on behalf of Nantong’s construction and foreign economic cooperation enterprises.
During the symposium, Chairman Zhang Xiangyang briefed the research delegation on the Group’s nearly four decades of experience in international engineering contracting and its fundamental approach to implementing the “Going Global” strategy. In particular, he highlighted the Group’s deep engagement in the African market, leveraging its longstanding local social networks, proven project track record, and strong corporate brand to maintain long-term, sustainable operations in seven African countries, thereby securing a solid market share and influence in the region. He then put forward three recommendations for advancing deeper China–Africa economic and trade cooperation: First, standardize the market conduct of Chinese enterprises to prevent unhealthy competition; the commerce authorities and commercial sections of Chinese embassies and consulates abroad should strengthen coordination and guidance to promote mutual cooperation and healthy competition among Chinese firms operating in Africa, thus safeguarding the collective interests of Chinese enterprises. Second, provide financial support for deeper cooperation and advance cross-border RMB settlement between China and Africa; this entails improving the RMB cross-border payment and clearing system to facilitate capital flows for “going global” enterprises, while reducing currency conversion costs and risks. Third, establish a robust protection mechanism to ensure the safety of Chinese personnel and assets; the government must act as a reliable “family representative,” effectively guaranteeing the security of domestic enterprises’ overseas operations, mitigating export and investment risks, and promptly delivering services such as regulatory guidance and risk alerts.
The research team from the Counselor’s Office of the State Council expressed full recognition and high praise for our company’s four-decade-long commitment to developing the African market and for the remarkable achievements it has attained in deepening China–Africa economic and trade cooperation. The team also stated that it will carefully review, study specific measures, and actively advance the implementation of the three recommendations put forward by Chairman Zhang Xiangyang for furthering such cooperation.
After thoroughly examining Nantong’s approaches, outcomes, and the challenges it has faced in recent years in conducting economic and trade cooperation with Africa, the research team unanimously concluded that Nantong-based enterprises have effectively tapped into the African market, thereby accumulating valuable experience for large-scale overseas entrepreneurship by Nantong residents and laying a solid foundation for people-to-people and governmental exchanges. The team expressed the hope that Nantong will further capitalize on the synergistic advantages of multiple national strategies, adopt coordinated planning and systematic deployment, and leverage its own strengths in industry, transportation, and resources to intensify cooperation with African countries.
(Overseas Branch, Zhang Xiyi)
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