Chinese firms are venturing overseas to tap the global market, but many feel shackled due to cultural and financing difficulties, analysts said at an ongoing international forum.
Chinese provincial governments have tightened the rules on officials' overseas trips paid for by the public in line with a nationwide austerity and anti-corruption drive.
As the quarterly earning-season of Singapore-listed companies came to close this week with most of the reported results seen to be weak and uninspiring, analysts here said that escalating labor cost and operating expense at home could force local companies to step up their overseas expansion.
When China opened its economy in a fishing hamlet bordering Hong Kong three decades ago, some of the bravest and most visionary overseas Chinese entrepreneurs returned to a country that they or their ancestors had fled for a better life. They came back to make a fortune.
South Korea planned to widen financial support for local companies to win overseas plant and construction orders by encouraging private-sector financial firms to participate in overseas projects as investors, the finance ministry said Wednesday.
South Korea planned to widen financial support for local companies to win overseas plant and construction orders by encouraging private-sector financial firms to participate in overseas projects as investors, the finance ministry said Wednesday.
As China seeks to shake off its image of the world's mass-producer of cheap products and move up the value chain, Chinese companies are trying to reshape their reputations in the international market to win acceptance.
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