High-end talent needed to enhance business ventures overseas

Wan also suggested that business owners should also get well prepared in outbound regulations, international practices and common rules, as well as cultural integration to avoid legal and cultural risks.

Only by doing so, "they may overcome difficulties posed by their inexperience in the business", he said.

On the visa front, Chinese enterprises have also met challenges because some nations have imposed high thresholds on their working visa applications to prioritize domestic employment.

Going global? Not so easy

Entrepreneurs from overseas awarded

Wan noted that while he has frequently reconciled with relevant foreign officials to eliminate stumbling blocks in specific visa cases, the problem will be there in the long term and requires joint efforts by the government and the business circles.

In another development, as private enterprises in China are gathering momentum in the "Going Global" initiative, providing them support will be a key task for the council, according to Wan.

Last year, private firms for the first time took in more than half of China's overall outbound direct investment.

Figures also show that the Chinese private businesses account for 76 percent of the country's direct investment in the United States, covering 90 percent of the relevant projects.

When investing abroad, "a flexible paradigm of operating and managing as well as a sensitive and quick response to market signals" are among the strengths of the Chinese private companies, especially in those projects located in remote areas, Wan said.

But private businesses are also worried about a range of bottlenecks in terms of capital strengths and risk-resistance capacity, including their inferiority in financing, information gathering and talent reserves, he said.

Helping the companies with their "Going Global" strategies is an important ongoing mission of Wan's council.

The organization will "strengthen support and service" for facilitating Chinese private businesses' plans to tap into overseas markets, Wan said.

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