Guideline underlines push for Chinese enterprises 'going global'

More efforts will be made to support Chinese private companies in expanding their overseas business and engaging in overseas projects in an orderly manner, according to a top-level national guideline issued on Wednesday.

The guideline, released by the Communist Party of China Central Committee and the State Council, the country's Cabinet, was unveiled to drive the development of the private economy.

According to the guideline, the country will support private enterprises to boost their competitiveness on the global stage and beef up their presence in the design and development of core components and high-end manufactured goods.

They are also encouraged to expand overseas businesses while abiding by local laws and regulations, actively participate in the joint construction of the Belt and Road Initiative and join overseas projects in an orderly manner.

The guideline also proposed to establish a risk prevention and cooperation mechanism for the personal and property safety of private entrepreneurs while doing business abroad.

Lei Jun, founder of smartphone firm Xiaomi Corp, said such support made the company feel more "reassured, encouraged and resilient" to strive boldly to expand their businesses in overseas markets.