Wu Zhong, director general of the Financial Center for South-South Cooperation, said that it is a major trend for Chinese enterprises to go out. After 20 or 30 years of rapid economic growth, they will begin to invest abroad. This is the first stage of economic law. We are more large companies such as central enterprises going out to build infrastructure. At this stage, more private enterprises are going out and moving their production bases to other developing countries to reduce costs and increase their international competitiveness. In the process, the international community misunderstood that excess production capacity was bad. Excess production capacity is only for the Chinese market; it's not that the equipment is surplus; it's not good. In fact, the “going global” equipment is all cutting-edge and advanced; we are only investing our production capacity in other countries.

Wu Zhong, director general of the Financial Center for South-South Cooperation, said that it is a major trend for Chinese enterprises to go out. After 20 or 30 years of rapid economic growth, they will begin to invest abroad. This is the first stage of economic law. We are more large companies such as central enterprises going out to build infrastructure. At this stage, more private enterprises are going out and moving their production bases to other developing countries to reduce costs and increase their international competitiveness. In the process, the international community misunderstood that excess production capacity was bad. Excess production capacity is only for the Chinese market; it's not that the equipment is surplus; it's not good. In fact, the “going global” equipment is all cutting-edge and advanced; we are only transferring production capacity to other countries.