Chinese enterprises to expand global presence

China's State-owned enterprises are forecast to post higher revenues and expand their world market presence this year as the government encourages them to advance in "going global", said experts and business executives.

They said SOEs are also being asked to carry out technological research based on national strategic and industrial upgrading needs.

China's optimized COVID-19 response and further opening-up measures will help its SOEs fortify international production deals and build more projects related to traditional and new infrastructure in overseas markets in 2023, said Liu Xingguo, a researcher at Beijing-based China Enterprise Confederation. That is especially so with economies participating in the development of the Belt and Road Initiative and signatory countries of the Regional Comprehensive Economic Partnership agreement.