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清华大学国家金融研究院院长、五道口金融学院副院长田轩:“走出去”是中国企业应对外部一切不确定性最重要的法宝
Mei Ri Jing Ji Xin Wen· 2025-05-17 11:31
Group 1 - The core viewpoint is that despite the uncertainties brought by the US-China tariff conflict, the Chinese market remains highly attractive to global capital due to its political stability, low corporate valuations, large market size, and human capital reserves [1][2] - China is advancing institutional opening and will keep its doors open for foreign investment, indicating a shift away from the previous state of free trade and globalization, with trade barriers and conflicts likely to persist in the future [1][2] - Companies are encouraged to innovate technologically, reduce costs, and diversify their markets to lessen dependence on the US and other single markets, while also pursuing outbound investments [1][2] Group 2 - The "going out" strategy is essential for Chinese companies to grow and strengthen their global competitiveness, despite the challenges posed by political, legal, and cultural factors [2] - Support for small and medium-sized enterprises (SMEs) affected by tariffs should combine short-term relief measures, such as tax reductions and loan extensions, with long-term strategies focused on technological innovation and market diversification [2] - To enhance domestic circulation, three major obstacles need to be addressed: breaking local protectionism, strengthening policy effectiveness assessments, and optimizing the development environment for the private economy [2][3] Group 3 - There is a need to further open financial and capital markets, as this will create a positive feedback loop with technological innovation, attracting foreign capital that can enhance corporate governance and provide long-term support for innovation [3] - The manufacturing sector is already fully open, and the next focus should be on the systematic opening of the service sector, with a caution to proceed in an orderly manner [3]