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Both major problems have solutions
At present, SMEs are still facing difficulties in “going outâ€. Xu Hongcai, Minister of Economic Affairs of China International Economic Exchange Center, pointed out that the current integration of SMEs into the international market faces two challenges or difficulties. One is the problem of information asymmetry; the other is the problem of “funding is difficult and financing is expensiveâ€. In response to these two issues, the Action Plan proposes targeted policies.
"Information asymmetry has become an important reason for restricting the internationalization of SMEs in China, and this is a global problem that cannot be solved simply by relying on the market. Therefore, the Ministry of Industry and Information Technology has emphasized that solving this problem is to catch the 'bovine nose'." The National Development and Reform Commission Li Dawei, an associate researcher at the Institute of Economic Research, said in an interview with this reporter.
In this regard, the "Action Plan" proposed three solutions: the government released information in a timely manner, the Bank provided matching docking services and set up a platform for matching political and financial enterprises, and provided services such as "industry information, online finance, and cross-border integration." Li Dawei said that the joint participation of the government, banks and enterprises will help timely transfer of information on policies and markets to SMEs, and its positive role is obvious.
In response to the “difficulty of financing and financing†faced by SMEs “going outâ€, the “Action Plan†not only develops exclusive financial products for SMEs, formulates differentiated credit policies, strengthens cooperation with banks and promotes investment and lending linkages. The pilot also proposed piloting the use of cross-border RMB loans to support SME financing, and explored the promotion of SMEs in the Free Trade Zone to borrow RMB funds from abroad.
More opportunities for “cross-border integrationâ€
In order to strengthen the effective connection between SMEs and the international market, the “Action Plan†emphasizes the “cross-border integration†model, which has become an important highlight. Wang Jian, general manager of the Bank of China's SMEs Department, said that SMEs in developed countries have advantages in management, technology and products, but the market is relatively saturated. China's SMEs are relatively backward in these areas, but China has a huge market, both of which have A vast space for cooperation.
Cross-border cooperation services for SMEs are more of a "matchmaker" role for cross-border cooperation between SMEs at home and abroad. “In the morning, Zimbabwe’s enterprises talked about water-saving projects and cooperated with South Africa’s “source of lifeâ€. In the afternoon, they joined the AFE company in Zambia to dock the rose garden project.†Zhou Chong recently participated in a Chinese-African enterprise in Hunan. The blind date will be, and eventually "phase in" the project of Zambia AFE company. At the meeting, every Chinese enterprise representative like Zhou Chong can meet with the potential partners on the “one-on-one†basis to meet the needs.
According to the Ministry of Industry and Information Technology, in the next five years, China's cross-border matching services will focus on key industries, key countries and key domestic regions, in line with international capacity cooperation, "Made in China 2025", "Internet +" action plan, national industry Key industries in the direction of structural adjustment, focusing on the “One Belt and One Roadâ€, the coordinated development of Beijing-Tianjin-Hebei, the Yangtze River Economic Belt, and the Free Trade Zone, jointly carry out special cross-border activities, and give full play to the role of various forms of foreign exchange and cooperation.
"Efficient implementation of cross-border integration can reduce the transaction costs of SME cooperation at home and abroad, improve cooperation efficiency, create more cooperation opportunities for SMEs to go global, and enhance their innovation capabilities. In the later operation, they have already Within the scope of this, we must also pay attention to highlighting the combination of SMEs' desire to participate in the field of cooperation, and adopt a differentiated model for different countries and regions," Li Dawei said.
Cultivate advantages and go global
It is also necessary to fight hard to fight the iron. SMEs should "do physical fitness" when they "go out". Xu Hongcai said that the company itself should upgrade its management level and pay attention to building brand competitive advantage. In the international market, we should also move towards the middle and high end of the value chain, actively integrate into the local competitive environment, and be familiar with local culture, laws and regulations, religion, customs and customs. It is necessary to combine localization and internationalization.
The relevant person in charge of the Small and Medium Enterprise Bureau of the Ministry of Industry and Information Technology pointed out that encouraging domestic SMEs to acquire global innovation resources through mergers and acquisitions, joint ventures, and shareholdings, and attracting foreign advanced technology, capital and talents to China will help accelerate the structural reform of the supply side of SMEs. To realize the transformation and upgrading of traditional industries and further consolidate China's real economy.
In addition, the “Belt and Road†is still an important platform for cooperation between domestic and foreign companies, and SMEs should seize this opportunity. According to the data of the Ministry of Commerce, in the first half of the year, Chinese enterprises signed 3,080 contracts for new contracted projects in 61 countries related to the “Belt and Roadâ€, with a total contract value of US$51.45 billion, a year-on-year increase of 37%, accounting for the new foreign contracted projects in China during the same period. 51.6% of the contract value.
“Small and medium-sized enterprises “going out†should give full play to the advantages of their own market segments, grasp the market demand, and enter the fields that meet their own development needs. They can do small projects or large projects with large enterprises. At the same time, they can use their own flexibility. The advantage is to develop projects with growth potential and actively integrate into the global market.†Li Dawei said that “going out†of Chinese SMEs will not only benefit themselves, but also SMEs from other countries will be able to take advantage of the Chinese market and bring China The market is bigger and can jointly develop third-party markets. (Reporter Qiu Haifeng)
Abstract In recent years, large enterprises in China are striding out of the country, but small and medium-sized enterprises have been bound by many factors. Recently, the Ministry of Industry and Information Technology and the Bank of China formulated the Five-Year Action Plan for Promoting the Internationalization of SMEs (2...
In recent years, China's large enterprises are striding out of the country, but the "going out" of small and medium-sized enterprises has been bound. Recently, the Ministry of Industry and Information Technology and the Bank of China’s Five-Year Action Plan for Promoting the Internationalization of SMEs (2016-2020) (hereinafter referred to as the “Action Planâ€) have proposed a number of targeted measures for the integration of SMEs. The global market has lifted its worries. Experts pointed out that the "Action Plan" highlights the two major problems facing the internationalization of SMEs and highlights the cross-border integration model, which will create new development opportunities for China's SMEs to "go global." At the same time, SMEs in other countries will also be able to take this opportunity to accelerate access to the Chinese market and jointly develop third-party markets.