Chinese Version
23 Apr 2009

The President of China-U.S. Chamber of Commerce Wynn Wang said "It is the time for investing "

 

There’s a saying called “now or never” in Chinese. " the China-U.S. Chamber of Commerce Chairman Wynn Wang told reporters in Beijing that under the current international financial crisis, the Chinese enterprises met the great chance on investment overseas on “Spring returns Yan normalization • Elite Summit" in 2009.

Wynn Wang called for example, such as Citibank. The highest price was 50 bucks per share, but now price just reach 9 cent per share. Wynn Wang joking and said, "You could say down to the earth, if you purchase a lot shares, that are thousandths of previousprice."

Also as real estate, Wynn Wang said you can buy three with one hundred million, while before you can only acquire one, and people did not necessarily sell it to you. However under the current financial situation, the characteristics are low cost and more opportunities.

The more important way that Wynn Wang pointed “the enterprises of China have to develop their business internationally with meeting the internationalization. It can be said that some industries are reached saturation during 30 years of market developing in China. such as manufacturing. The enterprises need to enter the international market looking for new opportunities to participate in international competition in order to being stronger.

Currently, “each industry has the opportunity to enhance their bossiness internationally” Wynn Wang said.  "and I personally recommendated  that under the current circumstances, all walks of life have the opportunities, but the scarcity of industry is resource class, especially the mineral resources like oil, copper, aluminum and other mineral resources, including fell to the bottom of the finance, real estate and other industries.

There were some Chinese enterprises which investing overseas with a large cost, but the cost recovery rate was equivalent low. Wynn Wang expressed his views and suggested “the enterprises of China which want to merge the companies overseas have to look before you leap, because of the difference of political system and economical environment. The more essential way to cut cost is looking for the great agency, has a professional team like law firm, accounting firm and so on. And those professional team could provide the accurate appraisal report for the purpose of reducing risks and avoiding deceived.

Reporters learned that the China-U.S. Chamber of Commerce built in 2006, promote the harmonious. Development of China-U.S. bilateral tradeis erecting a bridge between the two countries for business executives. Currently, the branched of the China-U.S. Chamber of Commerce have splited throughout the world, including more than 20 branches in United States and 20 offices in China. As chairman of the China-U.S. Chamber of Commerce, Wang Wynntold to reporter from Zhong Xin web” He will continue to promote Sino-U.S. economic and trade cooperation between the two countries especially on selection and evaluation of projects for assistance."

                                                                                                                                                                                                                                         ----translate by Zhanyu Qing