Wednesday , April 21 2021

Financing the world, overseas economic and trade cooperation zone to help enterprises "the pursuit of the sea" – finance news



Financing the world, overseas economic and trade cooperation zone will help enterprises to "pursuit of the sea"

裴 昱

Fusion World

In the most beautiful season in Beijing, the second Summit for international cooperation "One belt, one way" was opened. At that time, it's two years since the first summit.

In the past two years, the "Belt and Road Initiative" has achieved excellent results. From the consensus towards the concept, the action, the project, the "Belt and Path" initiative makes the world more practical and practical, as well as fusion A closer community of human destiny comes to us. By joining the world, the past can only be a dream, but now it becomes a reality.

Following the initiative "One Belt, One Way", nearly six years later, an overseas economic and trade cooperation zone with an accumulated investment of nearly $ 40 billion became an innovative model for cooperation with foreign investment.

Deputy Trade Minister Qian Keming at the second International Forum for Economic Forum and Trade Cooperation "One Belt, One Way" said the zone of economic and trade cooperation is not a "cheese" that a country enjoys, but a "cake" that shares it all parties.

The relevant reports show that 12% of foreign economic and trade zones have significant profits, 33% have received certain profits, and most of the zones abroad for economic and trade co-operatives that are working less than 10 years are still not profitable.

Large investment needs should be supported by diversified financing methods. Liu Kun, finance minister, said China will strengthen co-operation with all parties to build a policy framework to finance the high-quality development of "One Belt, One Way", will play a role as a multilateral center for co-financing in development finance and will supports quality project preparation and capacity building.

Investment Model Innovation

As an innovative model for enterprises to "implement the sea" and reduce the risk of overseas investments, overseas economic and trade cooperation zone showed a faster development trend than in the past in a complicated international situation.

"The cross-border economic and trade cooperation zone is an innovation of the investment regime and is an effective carrier for industrial cooperation between China and the countries" Belt and Road ", and it is also useful to create an appropriate small environment for enterprises." Bai Ming, deputy director of the Institute, told a Chinese business news reporter.

According to the Ministry of Commerce, the economic and trade cooperation zone has invested $ 10.2 billion in infrastructure along the "Belt and Road". By the end of 2018, overseas economic and trade co-operation zones alongside "Belt and Road" paid $ 240m and created 270,000 jobs.

"A zone of economic and trade cooperation zone is increasingly becoming a vivid practice for building" One belt, one way. "The economic and trade cooperation zone has gathered many forces and integrated superior resources to build a platform for cooperation and mutual benefit. on both sides support infrastructure and politics.With regard to security and security, it has created favorable conditions for enterprises entering the zone and has built a platform for cooperation and supply for all parties to fulfill diversified investment needs, "said Qian Keming.

Dr Lee Yu of the Institute for Foreign Investments and Cooperation of the Ministry of Commerce in an interview with this journalist said that "the infrastructure and market environment of many countries and regions along the" belt and road "are not developing, and abroad , the Economic and Trade Cooperation Park is the equivalent of the enterprise. Investment in the local area provides infrastructure facilities including site provision, park management, work with local authorities and business procedures. "

Data show that from 2013 to 2018, Chinese companies directly invested more than $ 90 billion in countries along the route, with an average annual growth rate of 5.2%. The sales of foreign negotiated projects in countries along the route exceeded $ 400 billion, and China's direct investments along the track exceeded $ 40 billion.

"Excessive economic and commercial parks are generally built up by state-owned enterprises or large private enterprises, such as Zhongbai Industrial Park and China-Europe Business Logistics Park. There are many enterprises in the country, not just Chinese enterprises, but also enterprises from different countries can settle in local investment. It is convenient to conduct transnational operations in underdeveloped areas, "said Li Yu.

The latest Chinese "One Belt, One Way" Abroad Economic and Trade Cooperation Zone for Sustainable Development Report (hereinafter "Report") said that price and market are the main factors that attract foreign companies to participate in overseas economic and trade cooperation zone . In the parked parks, 76% of the companies consider that the relatively low cost of production labor is the most important factor for attracting them; 74% of companies consider preferential investments and tax policies as the main factors for their choice, 71% of companies The relatively low cost of raw material production is a major factor in its entry.

In addition, successful site selection and support by the host government are also key to the sustainable economic development of the zone abroad for economic and trade cooperation.

According to the Report, most of the 42 foreign economic and trade zones participating in the survey are economically viable.

"In the next step we will combine the fundamental development of the" Belt and Road "construction, we will strengthen the planning and the docks with the relevant countries, industrial docking, the connection mechanism, firmly advocate for open cooperation, we stick to the concept of green sustainable development and we are pragmatically promoting the construction of cooperation zones, so that the Cooperation Zone has become a very efficient carrier for industrial cooperation between China and the host country, and also has to become the predecessor of these countries to promote the process of industrialization. " Song Lihong, Inspector of the Ministry of Commerce, said: "We have to focus on growing multiple locations with advantages and clear industrial positioning. The zone of cooperation with advanced operation and management and excellent construction results have made the cooperation zone an important platform for international cooperation for mutual benefit and profit.

Investments in private enterprises are rising faster

"In terms of quantity, private enterprises are the main force for Chinese enterprises to invest abroad," Lee said.

Regarding the participation of private enterprises in the construction of "Belt and Road", Ma Jun, the Minister of Communications Liaison Departments of the All-China Federation of Industry and Commerce, introduced at a press conference at the 2 nd International Forum for Entrepreneurs for Summit international cooperation at the 2017 Summit and Road Summit, Private Enterprises and the "Area" The total import and export of countries on the road is 619.98 billion US dollars, with 43.0% of the trade volume between China and countries along " Belt and Road ", with a growth rate of 12.1%. From the point of view of exports, the value of exports of private enterprises in countries along the "belt and road" reached $ 432.54 billion, representing 55.9% of the total, with a growth rate of 8.9%. From the perspective of imports, the value of imports of private enterprises along the countries "Belt and Road" is 1874,4. One hundred million dollars, with 28.1% of the total, the growth rate was 11.9%.

According to the research report of the first 500 private enterprises issued by the National Federation of Industry and Commerce, 274 of the top 500 private enterprises in China participated in the construction of a "belt and road", representing more than 50%.

Bai Ming believes that in the investment process "One belt, one way" private enterprises have a greater role, because the investment along the "belt and road" is characterized by less developed countries and relatively few large projects. Small and medium-sized projects are more suitable for private enterprises. In addition, private enterprises operate in a flexible manner and are more likely to control the risks.

PacificPresident of the Board of Directors of the construction group Yan Yan told reporters that the competitiveness of enterprises is vitality + strength. The biggest advantage of our private enterprises is the vitality, more flexible institutional mechanisms, more cautious business operations and a deeper understanding of local laws and humanitarian goals. And therefore, the use of more private enterprises is convenient for businesses to become more transparent and competitive in building the "belt and the road".

"Now private enterprises are highly motivated to invest abroad," said Li Yu, "People-owned enterprises can plow in the division of the field. Preliminary surveys, investigations, site selection and planning are more precise and can effectively avoid investment risks, as well as individual projects of private enterprises. The investment is small and the investment risk is more controlled. "

"We carry out horizontal cooperation with the relevant enterprises in the production chain in downstream and downstream of the industry chain in the project practice to form a joint venture such as planning and design, machinery and equipment, energy consumption, etc. With engineering institutes and technological research at the state level and major producer groups. Strategic co-operation can achieve complementary resources, reduce costs and improve efficiency, "Jan said.

The data show that China has currently established 113 foreign economic and trade cooperative zones, and private enterprises dominated the majority, forming valuable experience from "industrial ecology, development of links, market operation, wheel development", which promoted the park and the host . Sustainable development of the three sides of the park enterprise and win-win cooperation.

Ms. Alanza Gonzalez, executive director of the International Trade Center, said at a conference entrepreneur "Belt and Road" that private sector participation, including the involvement of the Chinese and foreign private sector, is very important to promote the long-term development of " belt and road "and Vitality. Because "the belt and the road" have brought many opportunities, especially in the countries of the South. For example, trade between the South and the South accounted for only 15 percent of world trade ten years ago, and today it exceeded 20 percent. Investments between the South and the South, which accounted for only 20% of the world a decade ago, today exceeded 50%. With better infrastructure connectivity, we can open more business opportunities for the private sector.

The reporter learned that at present, "Detailed rules for the implementation of the foreign investment report (approval) are open to public comment.

According to a person close to the Ministry of Commerce, this newspaper told reporters "it is expected to introduce detailed rules for the implementation of a report on the submission of foreign investment (approval) in June." After official publication, it is necessary to carry out large monitoring and data management for foreign-invested enterprises. Whether it involves obstacles to the foreign investment of enterprises, whether there are illegal operations in various channels, and after an all-in-one supervision, the government can react faster and strengthen corporate compliance operations. "

More financial resources

At the second forum for the international cooperation summit "One belt, one way", Mr. Liu Kun at the second forum for international cooperation "One belt, one way", "With the efforts of all parties, a system of financing was initially established" belt, one way. "A financial model for achieving multi-channel funds, involvement is to unite the consensus of all parties and realize the sharing of dividends for development, sustainability is to advocate green concepts, prevent debt risks and achieve healthy and harmonious development l. Long term mission to Gaza and the road. "

Behind the huge infrastructure needs is huge financial pressure. In an interview with reporters, many managers and experts from multilateral financial institutions said that, in the wake of the investment gap "One Belt, One Way", they should attract social capital to join, mobilize resources of institutional investors and diversify financial structure.

The reporter learned that from sources of investment in infrastructure in "Belt and Road", central enterprises have more advantages and easier to obtain political loans and funds for assistance from some international organizations and low interest loans. The interest rate can only be about 2%. If a private company is a listed company, it can use capital financing, but if it is a non-listed company, it mainly relies on its own funds.

"Our source of funding is mainly our own funds and funds for international cooperation. Foreign funding can also be solved through cooperation with international financial institutions, but more pressure comes from short-term loans from domestic financial institutions," Jan Yan told reporters. A year or short-term loans can easily lead to various problems arising from the project, which does not contribute to the development of enterprises. We hope that the state will to a certain extent increase the period of the loan to private enterprises, especially to the entities. Put more energy on the international market. "

The World Bank Director Georgieva said that the current global infrastructure faces a huge financial deficit, and the relevant countries should attract private sector investments to compensate for the financing gap by optimizing the investment climate and improving the financial market framework. In 2018, China's progress in improving the investment climate, the ranking of the business environment in China jumped from 78 to 46, which contributed to better support for the construction of "Belt and Road". The World Bank is ready to work with all sides to promote the long-term sustainable development of the developing countries "Belt and Road".

China and 27 countries approved the guiding principle of financing "One belt, one way". Co-financing by the National Bank of China and multilateral development agencies has invested more than 100 projects, covering more than 70 countries and regions. China's Center for Common Capacity Building Capacities and the International Monetary Fund and the Center for Research Center for a single belt have been established, one time, one time. Eleven Chinese banks have established 76 first-level institutions in 28 countries along the line. The business scope of RMB cross-border payment systems covers nearly 40 countries and regions along the road.

Chief Editor: Zhang Guoshuai


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