CCPIT Plays an Im­por­tant Role in the “Belt and Road” Strat­egy Im­ple­men­ta­tion

China's Foreign Trade (English) - - Contents - By Zhao Ail­ing

“Car­ry­in­ground of high­out qual­itya new open­ing up” is one of the 8 im­por tant works listed in the Gov­ern­ment Work Re­port this year. How to make sure of the “go­ing out” strat­egy will be­come key sup­port to the na­tional eco­nomic de­vel­op­ment? What role will the CCPIT play in the “Belt and Road” ini­tia­tive? China’ s For­eign Trade gave an in­ter­view with Mr. Jiang Zeng­wei, chair­man of the CCPIT and deputy chair of the 37th group of eco­nomic field of CPPCC, dur­ing the two ses­sions of 2016.

China’s For­eign Trade: Some Chi­nese com­pa­nies have dis­cussed and started trade co­op­er­a­tion with coun­tries in the “Belt and Road” re­gion, but met some dif­fi­cul­ties in the process. What mea­sures the CCPIT have taken or will take to safe­guard the over­seas busi­ness de­vel­op­ment of these Chi­nese com­pa­nies?

Jiang Zeng­wei: China is car­ry­ing for­ward the “Belt and Road” ini­tia­tive and “go­ing- out” strat­egy, which is a very im­por­tant strate­gic pe­riod of time. The com­plex­ity of the in­ter­na­tional env iron­ment has raised higher re­quire­ments for the qual­ity of le­gal ser­vices of Chi­nese com­pa­nies do­ing busi­ness over­seas. To im­prove le­gal ser­vice and cor­po­rate rights pro­tec­tion un­der the “Belt and Road” frame­work will be a sig­nif icant mea­sure to im­ple­ment na­tional trade and eco­nomic strat­egy and in­volve our coun­try into global trade reg­u­la­tion and gov­er­nance. It is also an im­por­tant ap­proach to safe­guard Chi­nese com­pa­nies’ just rights and prop­erty safety over­seas. The “Belt and Road ” ini­tia­tive in­volves more than 60 coun­tries in the world, and the po­lit­i­cal, cul­tural and his­tor­i­cal di­ver­sity poses huge risks for Chi­nese trade com­pa­nies. The lack of con­sis­tency in trade rules and le­gal ex­e­cu­tion, the com­plex­ity of bu­reau­cratic pro­ce­dures and de­lay of ju­di­cial cases will eas­ily plunge un­guarded Chi­nese com­pa­nies into end­less le­gal dis­putes. The dif­fi­culty to defuse com­mer­cial risks for Chi­nese com­pa­nies, es­pe­cially small and medium- sized com­pa­nies, is very huge, be­cause these com­pa­nies lack ef­fec­tive mea­sures to cope with the le­gal risks. They are in dire need of high qual­ity le­gal ser­vices.

The le­gal ser­vices pro­vided by le­gal re­search in­sti­tutes and law firms for com­pa­nies are so in­ad­e­quate that they could not meet im­me­di­ate de­mands of the com­pa­nies. To solve the is­sue, the CCPIT will work out a le­gal ser­vice guid­ance and le­gal risk re­port cov­er­ing coun­tries of the “Belt and Road” re­gion,to ed­u­cate com­pa­nies with ba­sic knowl­edge of laws and pre­vent risks. The CCPIT is also com­mit­ted to work­ing with for­eign le­gal ser­vice in­sti­tu­tions to es­tab­lish a le­gal ser­vice net­work cover ing t he “Belt a nd Road ” coun­tries. What’s more, the CCPIT will make full use of the current mul­ti­lat­eral and bi­lat­eral com­mer­cial and in­dus­try co­op­er­a­tion mech­a­nism, to im­prove knowl­edge of poli­cies of the “Belt and Road” coun­tries, to pro­mote the in­te­gra­tion of the trade and eco­nomic laws in these coun­tries.

China’sthe CCPIT For­eign an­nounced Trade: that Lastit would year im­prove the com­mer­cial and in­dus­try co­op­er­a­tion mech­a­nism to sup­port the “Belt progress and for Road”the work? ini­tia­tive. What is the

Jiang in­dus­try mech­a­nis­mCCPIT,trade in­sti­tu­tion­scoun­tries. Zeng­wei:and and cham­ber­sAs in­vest­men­tis com­mer­cialof a co- work­ingChi­naThe es­tab­lishe­dof multi-and fa­cil­i­ta­tion com­merce,plat­form co­op­er­a­tion for­eign­lat­er­alby the to pro­mote multi-lat­er­al­co­op­er­a­tion sup­ple­ment trade mech­a­nismto in­dus­try­the and in­ter-gov­ern­mentin­vest­ment,and is a com­mer­cialvery good the co­op­er­a­tioneco­nomic im­por­tant joint role mech­a­nism com­mit­tee.in the pro­mo­tion­like It trade plays and anof trade­and for­eign co­op­er­a­tio­nand coun­tries, eco­nomic be­tweenand com­mu­ni­ca­tion­ssig­nif­i­cant­lyChina and sup­port­s­their busi­ness Chi­nese in com­pa­ni­es­the in­ter­na­tion­alto ex­pand mar­ket. pro­gressThe yearin the 2015 es­tab­lish­men­thas seen ac­tive of mul­ti­lat­er­a­land in­dus­try and co­op­er­a­tion bi­lat­eral mech­a­nism com­merce by the CCPIT, which has worked with 88 co­op­er­a­tion in­sti­tu­tions and mul­ti­lat­eral groups in 59 coun­tries and Chi­nese Hong Kong, Chi­nese Tai­wan and Chi­nese Ma­cau, to cre­ate or re­new 101 mul­ti­lat­eral and bi­lat­eral com­merce and in­dus­try co­op­er­a­tion mech­a­nisms. These mech­a­nisms that cover coun­tries in the “Belt and Road” re­gion mainly in­clude: Silk Road Busi­ness Coun­cil, 21 Cen­tury Mar­itime Silk Road Busi­ness Coun­cil,

China-south Asia Busi­ness Coun­cil, China Com­mit­tee of East Asia Busi­ness Coun­cil, CHINA-ASEAN Busi­ness Coun­cil, Bangladesh, China, In­dia and Myan­mar Busi­ness Coun­cil, China-ara­bia Coali­tion Busi­ness Coun­cil, China-africa Coali­tion Busi­ness Coun­cil, China-east and Mid­dle Europe Coali­tion Busi­ness Coun­cil and Chi­nese En­trepreneurs Com­mit­tee of Shang­hai Co­op­er­a­tion Or­ga­ni­za­tion. The CCPIT has also es­tab­lished co­op­er­a­tion mech­a­nisms with the busi­ness cham­bers and trade fa­cil­i­ta­tion in­sti­tu­tions of more than 20 coun­tries, in­clud­ing Sin­ga­pore, Rus­sia, Mon­go­lia and Iran. As a re­sult, an in­dus­try and com­merce co­op­er­a­tion net­work that cov­ers ma­jor coun­tries and re­gions in the “Belt and Road” ini­tia­tive has taken into shape. To bet­ter play to the re­gional and in­dus­trial ad­van­tages within China, the CCPIT has set up 13 re­gional of­fices in 12 prov­inces to pro­mote mul­ti­lat­eral and bi­lat­eral in­dus­try and com­merce co­op­er­a­tion mech­a­nism.

By us­ing the mul­ti­lat­eral and bi­lat­eral co­op­er­a­tion mech­a­nism plat­form, the CCPIT is com­mit­ted to shar­ing trade and in­vest­ment in­for­mat ion w ith co­op­erat ion in­sti­tu­tions, or­ga­niz­ing re­cip­ro­cal vis­its, and co-or­ga­niz­ing var­i­ous trade and eco­nomic ac­tiv­i­ties to pro­vide trade and in­vest­ment in­for­ma­tion and le­gal con­sul­ta­tion ser­vices for com­pa­nies, pro­mote project dock­ing and re­solve t rade d is­putes for

com­pa­nies. These mul­ti­ple- ser­vices have pro­vided great sup­port and guar­an­tee for Chi­nese com­pa­nies’ over­seas busi­ness de­vel­op­ment.

China’s For­eign Trade: What poli­cies shall be put in place to im­prove le­gal ser­vices and cor­po­rate rights pro­tec­tion for the “Belt and Road” re­gion?

Jiang Zeng­wei: In my opin­ion, we shall strengthen the re­search on the le­gal rules and reg­u­la­tions of coun­tries in the “Belt and Road ” re­gion, to im­prove our le­gal ser­vices and cor­po­rate rights pro­tec­tion.

Au­thor­i­ties shall fo­cus on the prac­ti­cal is­sues faced by Chi­nese in­vestors when they make in­vest­ments into the “Belt and Road” re­gion, to im­prove re­search on the prac­ti­cal us­age of trade and eco­nomic laws and reg­u­la­tions of the “Belt and Road” re­gion. It shall en­cour­age and sup­port trade and in­vest­ment fa­cil­i­ta­tion in­sti­tu­tions and pro­fes­sional le­gal in­sti­tu­tions to in­volve into the re­search in the realm of for­eign ex­change rate, cus­tom, tar­iff, land pol­icy, la­bor and the en­vi­ron­ment in the coun­tries of “Belt and Road” re­gion. It shall col­lect in­for­ma­tion about the pol­icy, le­gal reg­u­la­tion and stan­dard con­cern­ing the in­vest­ment tar­get in­dus­tries, and an­a­lyze those poli­cies and rules that may hin­der the co­op­er­a­tion trade and in­vest­ment to re­duce trade and in­vest­ment bar­ri­ers through di­a­logue and com­mu­ni­ca­tions among gov­ern­ments.

The sec­ond is to im­prove le­gal ser­vices for trade com­pa­nies do­ing busi­ness in coun­tries of “Belt and Road”. The ser­vices in­clude fa­cil­i­tat­ing cer­tifi­cate is­suance and iden­ti­fi­ca­tion and other cus­tom clear­ance ser­vices, intellectual prop­erty rights ser­vice and trade dis­pute me­di­a­tion and re­solv­ing. It shall play to the unique ad­van­tages of pri­vate groups, em­power the lob­by­ing ca­pa­bil­i­ties in trade and in­vest­ment, pro­vide le­gal ser­vices against coun­tries with rarely-spo­ken lan­guages and de­velop a group of tal­ents with deep knowl­edge of for­eign lan­guages and law. It shall pro­vide train­ings for the com­pa­nies and im­prove com­pa­nies’ aware­ness to pre­vent le­gal risks.

The third is to pro­mote the for­mu­la­tion of re­gional trade rules in the “Belt and Road ” re­gion. The au­thor­i­ties shall pro­mote the re­gional in­te­gra­tion of trade rules and un­der­stand cor­po­rate de­mands through t rade and in­vest­ment fa­cil­i­ta­tion in­sti­tu­tions and so­cial groups, to bet­ter pro­mote re­gional trade rules ne­go­ti­a­tion, mul­ti­lat­eral trade rule ne­go­ti­a­tion and carry for­ward the re­gional trade rule in­te­gra­tion. Mean­while, it shall make full use of re­gional co­op­er­a­tion mecha n ism, such a s Shangha i Co­op­er­a­tion Or­ga­ni­za­tion, China and ASEAN co­op­er­a­tion mech­a­nism (10 + 1), APEC (Asia Pa­cific Eco­nomic Co­op­er­a­tion), Asia-europe Meet­ing, China- Arab States Co­op­er­a­tion Fo­rum, China ASEAN Ex­po­si­tion, China Eura­sia Ex­po­si­tion, and form a spe­cial com­mis­sion to dis­cuss trade law is­sues and ex­plore trade dis­pute so­lu­tions suit­able for coun­tries in the “Belt and Road” re­gion.

The last is to speed up the con­str uc­tion of in­vestor rights pro­tec­tion sys­tem for the “Belt and Road” re­gion. As laws and lan­guages dif­fer greatly coun­try by coun­try in the re­gion and the costs for pro­vid­ing le­gal ser­vices are very high. The au­thor­i­ties shall in­crease fi­nan­cial sup­port for small and medium-sized com­pa­nies pro­vid­ing le­gal ser­vices, to im­prove their abil­i­ties to pro­tect the rights of cor­po­rate in­vestors.

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