Seminar on innovation and development strategies of Chinese listed companies held in Beijing

Ji Xiaonan, chairman of the CBT 100 Company Forum, delivers a keynote speech at the forum. [Photo provided to chinadaily.com.cn]

Ji Xiaonan, chairman of the CBT 100 Company Forum and former Chairman of the Board of Supervisors of the State Council’s State-Owned Key Large Enterprises, delivered a keynote speech on supporting qualified State-owned enterprises (SOEs) to go public overseas and improving the international operation capabilities of SOEs. To begin with, Ji pointed out that it is necessary to focus on advantageous companies, make use of market-oriented operations, build multiple going-out platforms for companies that operate in superior industries (including both upstream and downstream companies), integrate commerce, industry and finance, and support cross-border mergers and acquisitions. It is also necessary to support qualified enterprises to directly finance from overseas markets, and enhance the ability of central enterprises to participate in international competition. According to Ji, full use of all existing international co-operation funds is necessary to encourage the set-up of relevant funds in a market-oriented manner. Non-State-owned capital bundles should be introduced so that central enterprises can improve their international operation capabilities.

In addition, Hou Yunchun, former deputy director of the Development Research Centre of the State Council, renowned economist Hua Sheng, Li Xiaojun, vice president of the China Association for the Promotion of Industrial Development, and Yu Xingxi, secretary general of the Beijing Listed Companies Association, delivered keynote speeches on the respective topics of CBT 100 companies need to be “aircraft carriers” for Chinese enterprises to go global, Sci-Tech Innovation Board and reforms of the A-share market, the role of innovation in enhancing competitiveness of companies, and the significance of the Sci-Tech Innovation Board and some of its noteworthy issues.

In order to promote the development of the R&D and innovation industries, the CBT 100 Company Forum decided to launch the first Global Best Innovation 100 (GBI 100) Competition, together with various CBT 100 companies. A launching ceremony of the GBI 100 Competition kicked off at the forum. The competition, with its top prize of $1 million, is expected to attract cutting-edge scientific and technological achievements from around the world, promote their integration with CBT 100 companies, and push the development of CBT 100 companies to the forefront.