Private firms lead China's investment overseas

In 2012, the private sector took over 61 percent of the total fixed assets investment overseas, and the figure in 2011 was 50 percent, according to Bao.

He suggested private firms change their style from expanding businesses on their own to developing hand in hand with local companies, which could make it easier when entering target markets.

Private entrepreneurs said the debt crisis in Europe created a golden chance for the Chinese private sector to expand through cooperation abiding by local rules.

On July 3, 2012, the Chinese government pledged to help private companies invest abroad while strengthening macro guidance on their overseas investment and helping them invest in a step-by-step and focused manner.

Kong Linglong, director of the National Development and Reform Commission's Division of Foreign Capital Utilization, said these measures helped Chinese private firms become more involved in world business operation with their own advantages.

Bosses attending the forum also agreed to apply combined overseas cooperative methods to invest in projects like tech parks, outsourcing services, jointly research and develop key programs and take part in the global production and procurement, so as to win dominant positions in global competition.

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