Editor’s note:11month21Day, Director of China Capital Operation Research Center, w88 casino, Associate Professor Feng PengchengAcceptInterview with a reporter from China Business News in response to the call of the 18th National CongressDiscuss issues related to cultivating world-class multinational corporations. Feng Pengcheng pointed out: From the perspective of the value chain and marketing curve, it will become increasingly difficult for Chinese companies to catch up with other companies. Because Chinese companies are basically at the bottom of the smile curve, while multinational companies in the world are at the high end of the smile curve. At the same time, both sides of the smile curve are getting steeper and steeper, and China's production profits at the bottom are getting thinner and thinner, making it increasingly difficult to catch up with multinational companies with high value chains.
The original report (excerpt) is as follows:
Cultivation of world-class enterprises:“Go out”required“Go”New Road
(Source: "China Business News"2012-11-22 B4Version reporter: Liang Weiwei)
Compared with the description of multinational enterprises in the report of the 17th National Congress of the Communist Party of China,“Support enterprises to carry out international operations in R&D, production, sales, etc., and accelerate the cultivation of my country's multinational companies and internationally renowned brands”, Now, the report of the 18th National Congress of the Communist Party of China is even more exciting,“Accelerate the pace of going global, enhance the international operation capabilities of enterprises, and cultivate a number of world-class multinational companies.”
The degree of internationalization still needs to be improved
It is understood that the world selected by Fortune magazine this year500In the strong list, Chinese companies on the list are ranked No. 1 in a row9Increased in years, totaling more than70companies are on the list, surpassing Japan in total and second only to the United States. However, judging from the companies on the list, the top200Only strong companies3There is still a gap between 11591_11610| companies and international multinational enterprises.
Currently, Huawei is a Chinese enterprise with global influence and a relatively large scale. Huawei’s telecommunications equipment serves the world100Multiple countries and regions, and ranks second in the global telecommunications equipment industry.
“Compared with the existing multinational companies in China and the international multinational companies, the most important difference is the difference in philosophy.”Feng Pengchengbelieves that multinational companies in the world now have the concept of global companies, which means integrating global resources for production and operations. However, our country's multinational companies are only in the preliminary stage of multinational companies. They only go abroad to produce and operate abroad, and they only use the resources of individual countries. The proportion of overseas business of my country's multinational companies is relatively low, and the number of countries involved is also relatively small.
Broadly speaking, an enterprise can be regarded as a multinational enterprise if it establishes overseas branches through direct investment and produces and sells worldwide. However, Western economists generally regard overseas business performance as the evaluation standard for multinational companies. Only the share of overseas business in the company's total assets, sales or profits25%Only those above are considered multinational companies.
A report on the Chinese website of Reuters stated that in addition to increasing the proportion of overseas earnings, Chinese companies currently need to grow into world-class multinational companies like General Motors and Coca-Cola. Not only do their revenue scales need to continue to grow, but their international features must also become more obvious.
Feng Pengchengbelieves that the concept of a multinational company is a global enterprise, and Apple is doing better internationally. Not only does the production chain of Apple products span dozens of countries, but it also relies on its own innovation and technology to seize the market. It is a company worthy of respect.
According to reports, Li Yushi, a foreign w88 expert and former vice president of the International Research Institute of the Ministry of Commerce, pointed out that China is quite abundant in foreign exchange funds and the state encourages companies to invest abroad. As Chinese companies grow in strength, their excess production capacity needs to find new markets. In this way, it will be logical for a large number of Chinese companies to accelerate their internationalization through overseas investment or acquisitions in the future.
AlsoFeng Pengchengbelieves that from the perspective of the value chain and marketing curve, it will become increasingly difficult for Chinese companies to catch up with other companies. Because Chinese companies are basically at the bottom of the smile curve, while multinational companies in the world are at the high end of the smile curve. At the same time, both sides of the smile curve are getting steeper and steeper, and China's production profits at the bottom are getting thinner and thinner, making it increasingly difficult to catch up with multinational companies with high value chains.
It is understood that the smile curve is a curve in the shape of a smiling mouth, with both ends pointing upward. In the industrial chain, the added value is more reflected at both ends, design and sales, while the manufacturing added value in the middle link is the lowest.
“Go out”The Foundation: Innovation
The transformation from a multinational company to a world-class multinational company must not only be done with confidence, but also“Go out”The pace must also be steady, which requires the joint efforts of enterprises and the country.
The rapid development of my country's economy has promoted the development of our country's enterprises, but now the world is facing“The Rise of China”With a defensive mentality, the requirements for China are getting higher and higher, and there are more and more restrictions.
For example, U.S. President Obama recently issued an executive order prohibiting Rolls, an affiliate of China's Sany Group, from building near a military base in Oregon on the grounds that it threatens U.S. national security.4A wind power plant. Immediately afterwards, the U.S. House of Representatives Intelligence Committee issued an investigation report stating that China's Huawei Technologies Co., Ltd. and ZTE Corporation pose a threat to U.S. national security and recommended that these two companies be prevented from carrying out investment and w88 activities in the United States.
“China’s Lenovo Group has made an acquisitionIMBAfter that, this year has become the global personal computer (PC)’s leading brother. Now Lenovo not only ranks first in sales, but the post-merger integration has also been relatively successful, and the brand has been successfully transplanted.”Feng Pengchengbelieves that Lenovo currently has the potential to develop into a world-class enterprise.
AlsoFeng Pengchengsaid that from the perspective of sustainable development, internationally advanced multinational companies generally have the characteristics of sustainable development, have a strong sense of social responsibility and the concept of sharing. And China“Go out”Some companies lack a sense of social responsibility, which has led to Chinese multinational companies being boycotted by other countries internationally.
In this regard, Representative Wang Yong, Director of the State-owned Assets Supervision and Administration Commission of the State Council, also stated at the 18th National Congress:“When enterprises go abroad to develop, they must not only adhere to their own purposes, but also abide by the laws and regulations of the country where they are located, and carry out investment and operations in accordance with laws and regulations. As the company develops, it must make more contributions to local people and economic development and assume its social responsibilities.”
The link to the original interview is as follows:
http://www.cien.com.cn/html/Home/report/74657-1.htm
