CHINESE FIRMS SEEN AS POSITIVE CONTRIBUTORS TO ASEAN ECONOMY

By Zhang Yan

Survey results indicate Chinese enterprises are held in high esteem by citizens of ASEAN countries

The awards ceremony for the Fifth Chinese Enterprise Global Image Summit was held in Beijing as the Chinese Enterprise Global Image Survey Report (ASEAN Edition) was released on Nov.17, 2017.

On Nov. 17, 2017, the Chinese Enterprise Global Image Survey Report (ASEAN Edition)was released at the Chinese Enterprise Global Image Summit 2017, held in Beijing.Compiled by China Report Press in collaboration with the Center for International Communication Studies under China International Publishing Group, New York-based market research firm Millward Brown and digital data collection company Lightspeed, the report focused on how China’s economic development, as well as Chinese enterprises and products, are received in six ASEAN member states along the Belt and Road,namely Singapore, Malaysia,Thailand, the Philippines,Vietnam and Indonesia. Based on the multidimensional investigation of the overall image of Chinese enterprises overseas, the report provides targeted and practical suggestions for Chinese companies to expand globally,as well as suggestions for China to implement its “going global”strategy.

Development Recognized

Source: Chinese Enterprise Global Image Survey Report

According to the report,over 70 percent of respondents think China’s economy is in a stage of rapid development at present and will continue to grow in the next 10 years.Among them, more than 40 percent believe China will maintain its rapid growth in the upcoming decade. As much as 90 percent of the interviewees from Indonesia and the Philippines speak highly of China’s rapid economic growth, significantly higher than the percentage of the other four ASEAN countries involved in the survey.

Over 80 percent of the respondents think China’s economy maintains high-speed or steady growth. Meanwhile,more than 70 percent of those polled believe China’s economic development has a positive influence on the world and the ASEAN economy, and over 60 percent see a positive impact on the local economy of their home country.

Global Image Improved

Source: Chinese Enterprise Global Image Survey Report

The report investigates the global image of Chinese enterprises in terms of their performance in fulfilling social responsibility, practicing fair play, corporate credibility and state of operation.Generally speaking, over half of ASEAN respondents hold a positive attitude towards Chinese-invested firms in their respective countries and recognize their contribution to local development. As for the results of each topic surveyed,interviewees from ASEAN countries rated the highest score for Chinese enterprises’successful operation and lowest in terms of fulfilling social responsibility.

More than 70 percent of those polled believe China’s economic development has a positive influence on the world and the ASEAN economy, and over 60 percent see a positive impact on the local economy of their home country.

A majority of ASEAN people surveyed recognize the contributions made by Chinese enterprises to the local economy, largely because they have provided more affordable products, more job opportunities and new investment. For them, the biggest problem is that many products made by Chinese companies are fake or inferior products.

With regard to corporate image building, Chinese enterprises need to make more efforts in terms of integration into the host countries in which they operate, particularly in regards to culture. According to the result of the investigation in areas of improvement, most respondents from ASEAN countries think Chineseinvested companies should try to blend themselves into local communities and cultural life.Vietnamese participants in the poll said that Chinese firms should be more public-spirited,while Thai participants think they need to provide products and services with enhanced competitiveness.

It is noteworthy that currently, Chinese enterprises enjoy wide media coverage in ASEAN. They are the subject of the same amount of media reports as those of companies benefiting from American and Japanese investment.Furthermore, media coverage of Chinese enterprises tends to be slightly greater than that of Russian and Indian businesses. According to the survey, the media is the main channel for ASEAN people to obtain information on Chinese enterprises. More than 70 percent of respondents get such information from the internet, which is followed by traditional media like television, newspapers, books and magazines.

Initiative Popularized

The report shows that 70 percent of ASEAN respondents know about the Chinaproposed Belt and Road Initiative, of which 33 percent are familiar with it.

ASEAN interviewees generally believe that the Initiative is of positive significance to the regional and global economy as well as global governance.Its role in promoting trade cooperation and infrastructure connectivity is at the highest level of recognition. As for the specific areas of cooperation,tourism, infrastructure and manufacturing are most anticipated by people in ASEAN countries.

Lists of the Top 20 Chinese Enterprises 2017 and the Chinese Enterprises with Best Global Image are also included in the report, the finalists of which were selected from 159 Chinese companies operating or selling products in ASEAN member states.Companies chosen represent industries such as energy,internet services, equipment manufacturing, finance, home appliances, transportation,telecommunications and information technology.Enterprises on the lists are primarily engaged in consumeroriented industries, including internet services, digital communications, automobiles and household appliances.