|By PR Newswire||
|March 21, 2014 01:22 AM EDT||
BEIJING, March 21, 2014 /PRNewswire/ -- China Going Global (CGG) - the country's first think tank on issues facing Chinese companies expanding overseas - today hosted Chinese chief executive officers and other senior managers at its first forum here.
The two-day event, China Going Global Outbound Investment and M&A Forum: What Every CEO Should Know, welcomed 50 top international experts to give advice on how Chinese enterprises can master the rules of the game and manage common risks as they go global.
Lord Mandelson, former European Union trade commissioner and currently Chairman of the Global Counsel consultancy firm, was the keynote speaker. He noted that in making acquisitions overseas, Chinese companies must often pay a "China premium" due to perceptions or uncertainties about their working styles and their reputation for being cash rich. He advised companies to look beyond the "win-win" for themselves and the companies they work with and make a special effort to communicate the benefits they bring to communities, employees, and other stakeholders in new markets.
Chinese outward foreign direct investment is expected to rise to US$150 billion per year by 2015, but a high proportion of attempted overseas investments fail, with most companies here still in their infancy in understanding foreign markets, formulating strategy, and executing plans for international expansion.
The CGG is the first think tank dedicated to research on these topics. It was founded by four leading Chinese companies: CITIC Securities, ShineWing Certified Public Accountants, Zhong Lun Law Firm, and BlueFocus Communication Group.
Also today, the CGG released the first two volumes of China Going Global Observer, a series of books published by China Machine Press on strategy, finance, law, and brand. The first volume focuses on outbound investment in the energy and minerals sectors and the second is devoted to international M&A in the manufacturing industry. Three more volumes will be published by next year.
The CGG also launched its official website (www.cggthinktank.com) and its public WeChat account.
About the CGG's four founding members
Investment Bank - CITIC Securities
CITIC Securities was founded in October 1995 and is headquartered in Shenzhen. It is the first Chinese investment bank to be listed on the Shanghai Stock Exchange (SSE Code 600030) and Hong Kong Stock Exchange (HSE Code 6030) and its services extend across the entire Chinese market. CITIC Securities covers the full range of service categories in the securities market, including brokerage, underwriting and sponsoring activities, proprietary securities business, asset management, securities investment consulting, and securities margin trading. In 2013, CITIC Securities acquired 100% of the shares of Credit Lyonnais Securities Asia (CLSA) Asia-Pacific Markets. In combination with partners in America and Europe, CITIC Securities now has its own network and professionals across all of the major markets in the world.
Accountants - ShineWing Certified Public Accountants
ShineWing is a Beijing-based accounting firm with 30 years' history, making it one of the first domestic accounting firms founded in China. It has 19 branches in mainland China and four outside of China in Hong Kong, Japan, Singapore, and Australia. It is the first Chinese accounting firm to set up offices overseas and to have merged with groups from a western accounting firm with a hundred-year history. It has established an international network in partnership with leading independent accounting firms internationally. ShineWing has approximately 4,000 finance and accounting experts in mainland China and 800 professionals outside of China. With the highest level of qualifications in all industries, it is regarded as one of the highest rated and most professional accounting firms in China. It is also one of the initial 12 accounting firms that received a license to conduct auditing services for H share companies by the Ministry of Finance and the China Securities Regulatory Commission.
Lawyers - Zhong Lun Law Firm
Founded in 1993, Zhong Lun is one of the largest full service law firms in China. It has over 160 partners and about 700 professionals, with offices in 10 locations inside and outside of China. With all its teams working in close cooperation, and in partnership with leading international law firms, Zhong Lun endeavors to provide solution-oriented services of the highest quality and efficiency for outbound and inbound investment and business. Zhong Lun is the first Chinese law firm to have a team specialized in outbound investment, comprised of lawyers with educational backgrounds and qualifications in a number of jurisdictions around the world. It has established a global network of offices and partner law firms. The team is fully experienced in outbound investment and has assisted Chinese clients with investments all over the world. The team's practice disciplines cover all categories of clients, including state-owned investors and privately owned investors, commercial banks, investment banks, governmental institutions, and all industry sectors, including oil and gas, power, alternative energy, railway and transportation, mining, telecommunications, manufacturing, and high-tech.
Branding - BlueFocus
BlueFocus Communication Group is the market leader for brand management solutions in the Chinese market. The Group's major service offerings cover digital marketing, public relations, advertising, event management, and international businesses. BlueFocus was established in 1996 in Beijing and was listed on the Shenzhen Stock Exchange/Growth Enterprise Market (300058.SZ) on February 26, 2010. Its major subsidiaries include BlueDigital, Insight PR, Best Choice, Phluency, Dentsu BlueFocus, SNK, Eyes Media, Kingo Advertising, Bojie Media, BlueStrategy, and We Are Social. BlueFocus provides services to over 800 multinational companies and leading Chinese enterprises. Its clients include more than 40 Fortune 500 companies in the IT, automobile, consumer goods, real estate, Internet, finance, and entertainment industries. Headquartered in Beijing, BlueFocus has four regional branches and 23 local offices in the Chinese mainland, as well as a global network that covers Hong Kong, Singapore, North America, and Europe. The Group employs approximately 3,000 people worldwide. Revenue in 2012 reached RMB 2.17 billion.
SOURCE BlueFocus Communication Group
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