Study Times published a commentary advocating that China’s centrally administered State enterprises should go international in the light of the recent global economic changes. “[These] enterprises should implement an international business strategy, step up the ‘going out’ process, actively explore overseas business, increase market share overseas, and focus on optimizing the industrial chain and value chain.” The article also stated that the allocation of resources must be based on a global expansion strategy to gradually accomplish globalization in strategy, operation, management, and culture. The commentary recommended that, in going global, State enterprises must implement measures that “through local hires, respect local customs, be immersed in the local economy, and strive to create and build a win-win situation.” The article cited the State-owned China Ocean Shipping (Group) Company (COSCO) as a success in the United States. COSCO “hired U.S. public relations firms and did a good job on anti-China Congressmen. … COSCO was removed from the ‘controlled carrier’ list [by the Federal Maritime Commission] and later was even approved to make an investment in the Port of Los Angeles.”
Source: Study Times, January 7, 2013
http://www.studytimes.com.cn:9999/epaper/xxsb/html/2013/01/07/08/08_22.htm