CEOs' plan to keep growing
By Maggie Zhang |
May 25, 2010, Tuesday
|
Print Edition
Print Edition
THE chief executives of China's major private enterprises are focusing on building up their brands, giving a boost to green economy and consider it a must to expand overseas, they said at a forum yesterday in Shanghai.
"Chinese private companies are seeking to climb the value chain for their brands as the country is already a major global manufacturer," said Guo Guangchang, chairman of Hong Kong-listed Shanghai Fosun High Technology (Group) Co, yesterday.
Guo also disclosed that the company, touted as China's biggest private conglomerate, will boost the green economy and also look into pushing renewable energy.
Fosun and the Carlyle Group have already been approved to form their private equity joint venture, the first to be registered in Shanghai after China in March simplified the registration process for overseas investors to form such ventures.
Another priority that the business chiefs consider as important is the need to go global.
"It is a must to go abroad to sustain growth," said Zhou Xiaoguang, chairman of Neoglory Group whose core business is making fashion jewelry products. His view is shared by Che Jianxin, chairman of Red Star Macalline.
The forum was held between the Sweden Pavilion and the Chinese Private Enterprise Pavilion, which is the only pavilion jointly invested by 16 Chinese private firms, including Fosun, Alibaba, Dalian Wanda Group Co and Jala Group Inc.
Private businesses accounted for more than 60 percent of China's economy and created 75 percent of total jobs in the country.
"Chinese private companies are seeking to climb the value chain for their brands as the country is already a major global manufacturer," said Guo Guangchang, chairman of Hong Kong-listed Shanghai Fosun High Technology (Group) Co, yesterday.
Guo also disclosed that the company, touted as China's biggest private conglomerate, will boost the green economy and also look into pushing renewable energy.
Fosun and the Carlyle Group have already been approved to form their private equity joint venture, the first to be registered in Shanghai after China in March simplified the registration process for overseas investors to form such ventures.
Another priority that the business chiefs consider as important is the need to go global.
"It is a must to go abroad to sustain growth," said Zhou Xiaoguang, chairman of Neoglory Group whose core business is making fashion jewelry products. His view is shared by Che Jianxin, chairman of Red Star Macalline.
The forum was held between the Sweden Pavilion and the Chinese Private Enterprise Pavilion, which is the only pavilion jointly invested by 16 Chinese private firms, including Fosun, Alibaba, Dalian Wanda Group Co and Jala Group Inc.
Private businesses accounted for more than 60 percent of China's economy and created 75 percent of total jobs in the country.
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