Re­form and open­ing-up brings pros­per­ity, mul­ti­plied global wealth

Global Times US Edition - - FORUM - The ar­ti­cle is from the Xin­hua News Agency. opin­ion@ glob­al­

China's re­form and open­ing-up has cre­ated pros­per­ity for the peo­ple while help­ing for­eign com­pa­nies find busi­ness op­por­tu­ni­ties in the coun­try and con­tribut­ing to global growth, a South Korean en­tre­pre­neur said. Pros­per­ity of the Chi­nese peo­ple is the big­gest change among oth­ers from China's re­form and open­ing-up pol­icy that has con­tin­ued for the past four decades, Park Keun-tae, pres­i­dent and chief ex­ec­u­tive of CJ Group China & CJ Lo­gis­tics, a lo­gis­tics arm of South Korea's food and lo­gis­tics con­glom­er­ate CJ Group, said in a re­cent in­ter­view with Xin­hua.

Park said the cur­rent cityscape of Bei­jing, such as a for­est of build­ings, neatly-built roads and well-dressed passersby, was never imag­ined be­fore the adop­tion of the re­form and open­ing-up pol­icy.

“The re­sults came from re- form and open­ing-up, which in­spired vigor into the en­tire so­ci­ety and boosted pro­duc­tiv­ity of the peo­ple,” said Park.

Re­form and open­ing-up en­cour­aged ev­ery mem­ber of the Chi­nese so­ci­ety to work harder for suc­cess, lead­ing the whole of China to go on a path of de­vel­op­ment. Ef­forts at re­form and open­ing-up for the past 40 years made China what it is now, said Park who is often called “China pun­dit.”

Park and CJ Group es­tab­lished their ties with China since the re­form and openingup pol­icy was in­tro­duced. The South Korean con­glom­er­ate set up an of­fice in Hong Kong in 1978 for the pur­pose of “learn­ing China's mar­ket,” and Park be­gan his Chi­nese ca­reer in Hong Kong in 1984 when he was 30 years old.

Two years af­ter China and South Korea es­tab­lished diplo- matic ties in 1992, CJ Group en­tered into busi­ness in China and cur­rently has 141 sub­sidiaries in 66 cities across the coun­try, op­er­at­ing 31 fac­to­ries and hir­ing around 23,000 em­ploy­ees. CJ Group spans busi­nesses from food and lo­gis­tics to biotech­nol­ogy, en­ter­tain­ment and home shop­ping. “Be­cause of the re­form and open­ing-up pol­icy, CJ Group was able to en­ter China and make a cur­rent suc­cess,” said Park, who is in charge of the CJ Group China head­quar­ters. Park learned the Chi­nese lan­guage in his ini­tial ca­reer to build friend­ship with his Chi­nese part­ners be­fore do­ing busi­ness.

“China's re­form and open­ing-up con­trib­uted much to the global de­vel­op­ment,” Park said, as the Chi­nese govern­ment cre­ated a huge de­mand via an ex­pan­sion­ary fis­cal pol­icy dur­ing the global fi­nan­cial cri­sis. There­after, it has served as a driv­ing force of global eco­nomic growth with its largest con­sumer mar­ket in the world.

China, Park said, has re­cently be­come the world's “lab of in­no­va­tion” as the coun­try is lead­ing the de­vel­op­ment of in­no­va­tive in­dus­tries, such as ar­ti­fi­cial in­tel­li­gence (AI), cloud com­put­ing and In­ter­net of Things.

In ac­cor­dance with China's sus­tained de­vel­op­ment and growth, CJ Group has been pre­par­ing to ex­pand its busi­ness in China for the past 10 years. CJ Lo­gis­tics has re­cently in­creased re­search and de­vel­op­ment in drone de­liv­ery, au­ton­o­mous pack­age sort­ing and ro­bot use within ware­houses.

Echo­ing South Korea's New North­ern Pol­icy, the Chi­napro­posed Belt and Road Ini­tia­tive, CJ Lo­gis­tics is pro­mot­ing its North­ern Lo­gis­tics Plan, for which the South Korean com­pany has newly opened a mas­sive lo­gis­tics cen­ter in the north­east­ern Chi­nese city of Shenyang.

If the rail­ways are con­nected along the eastern and west­ern cor­ri­dors of the penin­sula, it will cre­ate a “new lo­gis­tics silk road” by link­ing it to the Tran­sChina Rail­way, the Trans-Mon­go­lian Rail­way and the Tran­sSiberian Rail­way, said Park.

It would en­able CJ Lo­gis­tics to pro­vide door-to-door de­liv­ery ser­vices be­tween Asia and Europe, re­duc­ing costs and rais­ing ef­fec­tive­ness in lo­gis­tics, Park pre­dicted.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.