Chinese companies should seek Belt and Road cooperation

Chinese companies should join hands and together seek overseas investment in the Belt and Road Initiative economies, Dong Wenbiao, chairman of China Minsheng Investment Group (CMIG), said at the Boao Forum for Asia on Saturday.

Starting with sharing consultancy teams, Chinese companies could pull collective strength in mapping investment routes and developing localization strategy, Dong said.

Dong also suggested Chinese companies find local partners to get better knowledge of local markets and more effective communication with local authorities.

CMIG is China's leading international private investment group, founded in 2014 and with registered capital of 50 billion yuan.

CMIG has set up a 100 million yuan special fund to train local executives overseas, Dong said.

He said that most Chinese companies now choose to retain a local management team, even raising bonuses to keep talent, as in CMIG's case when acquiring Sirius International Insurance Group.

"China is sharing its experience of opening up with the rest of the world through the Belt and Road Initiative," Dong said, adding that CMIG has been focusing on South East Asia to export the country's industrial advantages to ASEAN countries.