I was honored to be part of the China Embassy/BLG roundtable discussion on “The 4 Comprehensives Strategy & China’s Development”, the compass for China’s direction. The Vice Minister, International Dept of the CPC Central Committee emphasized the importance of rule of law and governance and the efforts to strengthen party governance and freedom of speech in China. Having become a middle income in country he discussed the traps and challenges therein.
When asked about anti-corruption practices, the response was that as Chinese businesses are going abroad, they are training them on local country practices and asking them to abide by local laws and norms. When asked about SOEs(state owned enterprises) and how they might be contrary to the progressive business development direction that China is growing into, they said SOEs were actually developed in the process of the market economy evolution. and secondly, they are focusing SOE efforts in industries and areas where there is little or no market access – nor interest, due to low margins – thus private companies don’t often want to play here so the government ensures these initiatives happen (for example in utilities).
On the subject of innovation, they are fully inclusive of other people from other countries and believe in a collaborative approach. They have established intellectual property laws, although they admit there is room for improvement.
They did not aim to set up a wall for foreign technologies.
Embassy of the People’s Republic
of China in Canada
Borden Ladner Gervais LLP (BLG) invite you
to attend a roundtable discussion on
THE “FOUR COMPREHENSIVES” STRATEGY AND CHINA’S DEVELOPMENT
Honoured Guest Speaker: Mr. Guo Yezhou, Vice Minister, International Department of the CPC Central Committee