On the afternoon of November 26th, the 2021 “Top 50 Local Private Enterprises in Zhejiang for Cross border Operations” expert demonstration meeting was successfully held in Hangzhou. Zhu Jun, a member of the Party Group of the Provincial Department of Commerce and Chief Economist, attended and delivered a speech. Relevant experts including the Provincial Department of Commerce, the Provincial Local Financial Supervision Bureau, the Zhejiang Branch of the Administration of Foreign Exchange, the Party School of the Provincial Party Committee, the Zhejiang Branch of the Export Import Bank of China, the Zhejiang Branch of the China Export credit insurance Corporation, the Provincial Institute of Commerce, the Provincial Institute of Multinational Corporations, Zhejiang University of Technology, etc. attended.
Zhu Jun pointed out that local private multinational corporations have made outstanding contributions to the economic development of Zhejiang. They have made outstanding contributions to energy and resource security, two-way trade and investment, technology introduction and upgrading, and the construction of the “the Belt and Road” in our province. These enterprises are of great significance for our province to build a new development pattern of “double circulation”. We need to continue to implement the theory of “sweet potato economy”, do a good job in cultivating local private multinational corporations, take this work as a starting point, actively adapt to the changes in geopolitical situation under the century long changes, and create a resilient new pattern of “double circulation” in opening up to the outside world. The key is to strengthen resource integration and enhance the cross-border business capabilities of enterprises. Carry out policy innovation in conjunction with the construction of free trade zones, integrate the resources and strength of professional service institutions such as law, taxation, finance, risk prevention, and overseas security, and enhance the cross-border business capabilities of enterprises.
The introduction of two consecutive rounds of cultivation plans from the government level has provided institutional guarantees and growth soil for the development of local private multinational corporations in our province. The cultivation of local private multinational corporations has promoted the growth and strength of related enterprises. In the list of China’s top 100 transnational corporations in 2021 released by the China Enterprise Confederation, 11 enterprises in Zhejiang were listed, including 10 private enterprises, ranking first in the number of provinces and cities in China. We need to continue to strengthen the cultivation of local private multinational corporations on this basis.
At the demonstration meeting, experts scored and demonstrated the enterprises according to the requirements of the “Three Year Action Plan for Accelerating the Cultivation of Local Private Multinational Companies in Zhejiang” (2020-2022) by composing an indicator system consisting of 22 data items, including overseas assets, overseas profits, cross-border index, import and export volume, compliance construction status, and contribution to the economy of our province. They also provided valuable opinions on the improvement of the indicator system. Next, our department will finalize the top 50 list based on expert opinions.
(Contributed by the Department of Foreign Investment and Economic Cooperation)
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