NANJING, May 27, 2015 /PRNewswire/ -- Recently, several leading Chinese entrepreneurs, led by Jiangsu Dayuanyintai Mercantile Exchange president Yuan Guming, traveled to the U.S. to attend the Berkshire Hathaway (BRKA) shareholders meeting as well as to visit the New York Stock Exchange (NYSE) and the offices of Goldman Sachs Group. They paid visits to 6 internationally leading organizations and had meaningful dialogues with 9 top world figures, including former chairman of the U.S. Federal Reserve System (FED) Alan Greenspan, members of an American think-tank, congressmen and economists, during which they discussed China's "One Belt and One Road" strategy, investments in this new age, innovations in internet technology, the competitiveness of China and the U.S. as the two countries look towards the future among other key topics of the day.
Similar to Dayuanyintai, more and more Chinese enterprises are starting to build business relations with partners in the rest of the world. This phenomenon is based on the new reality that Chinese firms are demonstrating higher levels of competitiveness and are staking out their position in the world. As a leading force behind the latest round of globalization, the government's latest economic measures, of the transformation taking place across every industry upgrades and the revolution in technology, China is set to have significant global impact.
Previously, the manufacturing, services and financial sectors were led by the U.S. and Europe while China was forced into globalization by accepting products and technologies from developed countries. During the 1990s, the latest and newest technology, the Internet, was introduced into China. At the beginning it was considered as something unbelievable, but now, it has become an innovative means to fundamentally change all industries. The Internet has given Chinese companies the means by which to "go global" and even to become the global market leaders in some industries. Furthermore, a number of China-born brands and companies have developed explosively by making the most of Internet. A few well-known examples, just to name a few, are WeChat, Alibaba, Xiaomi and Huawei.
China's national strategy has shifted from the encouraging of foreign investments in China to the encouraging of Chinese investments outside of China during a short span of over 20 years, while Chinese companies have already found the key for another round of worldwide breakthroughs. Just as Mr. Yuan said while visiting the headquarters of JPMorgan Chase: "China spent 30 years to achieve what America achieved in 200 years", the huge advances in China's political system and economy have provided great encouragement and support to Chinese firms.
Here and now, Chinese companies are taking the Internet seriously and entering what is being termed the "Internet Plus" era. The combination of the Internet and traditional industries has become the direction of collective global exploration; the Internet economy, as the new engine for economic growth, provides important opportunities for economic restructuring and transformation.
With the industrial transformation and the Internet of Everything, many Chinese firms have successfully pioneered cross-border development. However, there is no precedent or accumulation of experience to draw from for Internet-driven finance in any industry in China. On the heels of the "One Belt and One Road" strategy-led globalization wave, the communication and collaboration with the key players of the U.S. financial empire being undertaken by executives at China's financial institutions are particularly meaningful. Mr. Yuan reckoned that he was able to personally witness the strong systematic strength of U.S. financial institutions during his U.S. study tour, which, on the one hand, deepened his understanding of the new development model and added to his own experience as a manager, while, on the other hand, allowed him to gain a more comprehensive understanding of how to innovatively merge Internet technology with China's financial sector, especially as to how it applies to the bulk commodities trading market.
China's economic status has improved along with the changes in the global economic landscape. Internet finance has become the industry's headline in the "Internet Plus" era. Mr. Yuan commented: "Internet finance provides a new vision for Chinese firms as they pursue better cross-border development and expand channels for capital investment, while also providing China's bulk commodities trading market with innovative models for development as well as countermeasures for dealing with a new round of globalization in the market, greatly enhancing the confidence of Chinese firms who are seeking a stable landing in the international market.
He also pointed out that the emergence of the "Internet Plus" concept will effectively speed up the adoption of Internet finance by and further transform China's bulk commodities trading market. Jiangsu Dayuanyintai Mercantile Exchange is expected to seize the opportunity to proactively deal with the changes in the market. The Exchange wishes to be the leader in China's bulk commodities trading market and to promote the healthy development of the market. Driven by innovation, the Exchange is determined to grow into a bigger and stronger service-oriented international trading platform that provides services to the real economy and allows more and more investors enjoy more secure and effective financial services.
SOURCE Jiangsu Dayuanyintai Mercantile Exchange