Foreign Direct Investment From Wenzhou Private Enterprises Internationalization Issues

The development of private enterprises and its internationalization is an importantoption for the future business development in China. In recent years, Wenzhou privateenterprises have given up their old family-oriented and small commodity economybusiness model, gradually adopt a development mode of "specialized operation liberalizedproduction factor and socialized service ". The Ministry of Commerce named it as "goingout" and "Wenzhou model".In March2012, the State Council approved the establishment of a comprehensivefinancial reform pilot area of Wenzhou, proposed twelve key tasks for Wenzhou financialreform, especially proposed to launch a pilot experiment of personal foreign directinvestment and to explore the establishment of standardized and convenient directinvestment channels, which not only provide policy support for foreign direct investmentby Wenzhou private enterprises, but also "promote foreign trade by finance development",and boost the internationalization process of local enterprises. It means that privateenterprises in Wenzhou assume the task of foreign direct investment in the first trial. Inaddition, the Second Session of the National People’s Congress held in March2014, andstrengthens the construction of an open economic system, and efforts to improve the levelof opening-up, China’s enterprises develop new markets in the world, competitiveness andgrowth, is written into the government work report. As a result, the significance of privateenterprises’ FDI in Wenzhou and the importance of the research into theoretical andpractical aspects are both confirmed.This paper studied the case of Wenzhou private enterprises, used a variety of researchmethods including comparative analysis, case analysis and dynamic analysis to researchinto Wenzhou private enterprises "going out" experience and successful models, andanalyzed their strategies and approaches to the international market, summarized theproblems in this process. Based on the actual practice of Wenzhou area and relevantexperience abroad, this paper gave suggestions from access to information, service systems,financing, the use of overseas Chinese advantages and other aspects, and extended toother regions in China from the case analysis of Wenzhou private enterprises, so as toprovide some theoretical support for China’s private enterprises into the internationalmarket.