Insights from one of China’s top entrepreneurs
on the country’s growing culture of entrepreneurship,
domestically and abroad.
WANG HUI
Director, International Department of
Macro-Euro China Entrepreneurs’ Club
In the past five years, Chinese companies, chambers and associations, and the Chinese government have all experienced much greater challenges than ever before. They have faced new and complex situations head on, without a tried and tested road map for a new way forward. Anti-globalization, climate change, increasing pollution, slowing economic growth, and energy reform have all intensified pressure they now face. Meanwhile, China is facing new opportunities through globalization and digitalization. Now, more than ever, reform and development is the key to a promising future.
In particular, the Chinese private sector, SMEs, chambers and associations could really contribute more together with their global partners.
From China’s Reform and Openingup policy to the Belt & Road Initiative, Chinese SME entrepreneurs have vast experience. They have tried, succeeded, sometimes failed; but generally they have progressed, with traditional characteristics of diligence, seriousness, hospitality and adventure.
Yet, Chinese SME entrepreneurs continue to experience difficulties both at home and abroad. Nationally, Chinese SME entrepreneurs tend to lack a clear vision and business development plan for their enterprises; lack trust and communication with local chambers and associations; and lack a precise understanding and application of national policies. Furthermore, internationally they tend to lack a sufficient understanding of foreign investment policies; chamber and SME cooperation plans; and the investment and financial support structures available for cooperation projects.
To better support its home-grown entrepreneurs in a free and mobile world, the Chinese government has published significant long-term national policies to encourage and support Chinese SMEs to go abroad, as well as to continue growing their business in China. This is exemplified by the Belt and Road Initiative, proposed by President Xi Jinping; Public Entrepreneurship and Peoples Innovation, proposed by Premier Li Keqiang, and Made-in China 2025, supported strongly by MIIT. China plays a more and more important role in taking global leadership and making contributions. By participating in and organizing more international chamber and association events, Chinese SMEs can gain additional international professional guidance and support in investment, technology, alliance-building and policy formation. This is significant for Chinese SMEs, especially start-ups, economic institutions, branches, local chambers, and international industry, commerce and trade associations. They are lucky to operate in a favorable economic climate with global partners for co-development, especially in the digital and shared economy era. Through investigation, investment, communication and cooperation, Chinese SMEs are making global contributions in many ways, as well as enjoying mutually beneficial achievements.
Entrepreneurship is the precious treasure of society, which creates boundless value for the world. Entrepreneurship means exploring and discovering. It starts with inspiration, grows in imagination, and is energized by ambition. It is a course for both enterprises and entrepreneurs to be born, to experience, to grow up, to achieve and to contribute to society. In modern China, this entrepreneurial journey starts with design and reform. Professional support from international governments, chambers and associations are indeed the driving engines for Chinese and international SMEs and entrepreneurs. It will keep them innovating; developing; forming new business models; and accelerating internationalisation, intellectualisation, and digitalisation.
With a humble attitude, it requires far less effort to grow as an entrepreneur. Be a pioneer as well as a leader. Explore and create the future, instead of waiting for someone else. As a global elite of great mind and heart, entrepreneurs can inspire and help each other to create value that will serve the world. It’s a course of realising one’s dreams, whilst taking a simultaneous step forward for society.
Building deeper partner relationships; winning more trust after communication; and conducting better research and discussion will lead us to open our horizons and foresee the future. With this picture in mind, we will be more confident and optimistic.; and with innovative power and practical collaboration being strengthened, the support and contribution of the private sector will continuously be enhanced. It will definitely mark a new stage in the global contribution and selfdevelopment of SMEs and chambers. We just need to take dynamic action, and the compass of a brilliant future will be our mind and hand.
