Chinese entrepreneurs reiterated their adherence to the increasingly globalized corporate strategies at the just closed annual session of the Bo'ao Forum for Asia (BFA) in this southern beach city - Hainan on Sunday.

Big-name BFA attendees Zhang Ruimin and Yang Yuanqing, leaders of the home electrical appliance giant Haier and PC manufacturer Lenovo, admitted their enterprises had benefited greatly from the increasingly ambitious global reaches.

Although widely challenged for Lenovo's expensive acquisition of IBM, Yang Yuanqing stressed that the deal brought to Lenovo a far broader international market and closer links with customers across the globe.

"We also got an exceptional management team and a famous brand," said Yang.

A total of 700 foreign and Chinese entrepreneurs attended the BFA and a considerable portion were Chinese businessmen coming forsuggestions on expanding their operations overseas.

An earlier survey conducted by the Ministry of Commerce indicated that some 50 percent of the sampled Chinese enterprises voiced their wish to "go global" within the next two years.

According to statistics from this year's BFA, operations of theChinese enterprises are now located in some 160 countries and regions and related to mining, manufacturing, retailing and many other industries.

Former European Commission President Romano Prodi predicted at the BFA that China will make bolder overseas investment moves, particularly in the manufacturing and distribution industries. A great number of state-owned and private multinational corporationsof the Chinese roots are very likely to come into shape in the near future.

At present, a dominant number of Chinese enterprises are testing waters in the southeast Asian countries while a small but increasing number of operations extending their reaches to the more developed and difficult north American and European market.

Source: Xinhua