Chinese firms increase footprints at World Economic Forum

Source:Global Times Published: 2020/1/20 19:08:40

A Huawei shop in Shanghai Photo: cnsphoto



Graphics: GT

Chinese companies, which have been increasing their footprints on the world stage during recent years, will take an active part in the 50th World Economic Forum (WEF) Annual Meeting held in Davos, Switzerland this week. They're also eager to exchange ideas and experience in areas including artificial intelligence (AI), big data and pharmaceuticals, business representatives said.

Although the forum's date falls amid the most important Chinese holiday, the Chinese Spring Festival, or the Chinese Lunar New Year, more than 100 Chinese representatives are expected to attend this year, according to a report from domestic news site yicai.com. 

Chinese participants include senior executives from leading companies covering a wide range of areas, including technology giant Huawei, social media company ByteDance, smartphone maker Xiaomi, online travel provider Ctrip, and conglomerate Cedar Holdings, according to yicai.com, which cited information provided by the forum.

Along with more than 2,800 delegates from 118 countries and regions around world, including 57 heads of state or government, Chinese representatives will talk on topics focusing on key areas such as ecology, the economy, technology, society, geopolitics and industry, according to the conference agenda. 

The forum is becoming a significant venue for Chinese companies to implement their internationalization strategy, "go out" further, and make deals. 

Cedar Holdings said in a statement it sent to the Global Times on Monday that together with three Swiss investment institutions, the company is planning to establish an asset management platform with an expected scale of more than 10 billion euros ($11.09 billion). 

The focus of the platform will be sectors such as environmental protection and energy, finance and education, Cedar said, noting that companies from both countries will increase investment in these areas and serve the China-proposed Belt and Road Initiative.

"Thanks to a series of financial market opening policies implemented on January 1, 2020, foreign asset management companies' investment in China has received more policy support. The three Swiss investment institutions also hope to use Cedar's good Chinese resource network and service capabilities to carry out comprehensive cooperation in multiple dimensions," read the statement.

Lu Minfang, chairman of China Mengniu Diary Company Co, will also attend the WEF, according to a report from people.cn. Lu will talk with many business leaders from around the world on topics including consumer trends and sustainable development. Together with other entrepreneurs and members, he will discuss how to face and solve global business problems.

Apart from leading domestic giants, emerging companies such as Yidu Cloud, a medical AI technology company and a unicorn company of innovative medical solutions driven by data intelligence, is also hoping to take part in the forum and take the chance to learn from international experience.

As a regular attendee of the forum, Gong Rujing, founder and chairwoman will take part in a roundtable discussion on the future of healthcare on Wednesday. "We also hope to bring our successful experience to more countries, introduce them to our data processing systems and bring them convenience with the practice of AI medicine," the company said in a statement it sent to the Global Times on Monday.

Posted in: ECONOMY,COMPANIES

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