More than 100 Chinese and foreign business representatives, officials and scholars discussed Chinese companies' "going global" Wednesday at the APEC (Asia-Pacific Economic Cooperation) Business Advisory Council (ABAC). Foreign companies are increasing their investment in China, which has enjoyed a continued rapid economic growth in recent decades. More and more Chinese enterprises are beginning to go global by investing outside the country, said ABAC Chairman and President of ROK (Republic of Korea) -based Tong Yang Group Jae Hyun Hyun at the meeting in Beijing.

On behalf of business circles, ABAC will give more recommendations to APEC to help push forward regional free trade process and help Chinese companies' "going global" strategy, he said.

Wang Jianming, board chairman of the Guangxi Yuchai Group, which produces engines, said his company, through going public in New York stork market in 1994 and importing Western advanced technology, has strengthened itself and is now ready to export its products to European and American markets.

After developing resource advantages and name brands, Chinese enterprises will surely go globally in a bid to enhance ties with international economy, said Meng Xiangang, board chairman of the China National Foreign Trade Transportation Corporation.

"China's companies are still at the initial stage of going out," he said.

APEC, striving to reduce tariff level of its members as well as transaction costs, will help Chinese enterprises to implement their "going global" strategy and be conducive to the international economic and technology cooperation, said Gong

Zhankui, director of the APEC Research Center of Nankai University.

Founded in 1996, the ABAC is an organization in the APEC that stands for business community. ABAC gives advices on how to create a more favorable environment for the business community and submits annual reports to the leaders of the APEC member economies.

The most vital activity of ABAC is to hold dialogues with the leaders during the APEC informal meetings of leaders.