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Chinese Engineering Company of international operations

Author: ShenYaWei
Tutor: HuoWeiDong
School: Southwestern University of Finance and Economics
Course: Business Administration
Keywords: China Engineering company Internationalization Operate Foreign project contracting
CLC: F284
Type: Master's thesis
Year: 2008
Downloads: 136
Quote: 0
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Abstract

With China's economic development, foreign economic contacts increasingly widespread, as well as China's accession to WTO, foreign investors further into the domestic market, the domestic construction companies and international engineering companies increasingly close cooperation and directly faces the challenge of competing against international engineering company ; while deepening economic globalization trend, the domestic engineering companies also ushered in the worldwide market development opportunities. According to the U.S. \, turnover growth of 61.8% over 2005, showing a good momentum of development of Chinese contractors. Foreign project contracting and cooperation with China's foreign investment and an important part of the implementation of \growth played an important role. As for China to carry out foreign project contracting engineering company, engineering industry should fully understand the current international situation and actively participate in international division of labor, to accelerate the development of international operations. In this paper, Chinese engineering companies operating status of internationalization as a starting point, review the applicable international business theory. In October 1984, the Third Plenary Session of the Party's twelve years, China's construction enterprises internationalization process officially kicked off, after 20 years of development, has ushered in an era of rapid development. But on the whole should be noted that our engineering companies overseas business volume was high although the trend, but in the areas covered and business area there is a large shortage. The first is the field, housing construction and transportation engineering companies operating overseas in China share an absolute advantage, with the same period the proportion of the global engineering company business areas are quite different. The housing construction and traffic on the technical requirements and margins are relatively low, indicating that China's construction companies and enterprises in developed countries do not have the technology to compete against strength. Meanwhile, a regional analysis can be seen from the business, our engineering company's business area is still concentrated in Asia and Africa. Developing countries in Asia and Africa are relatively concentrated, the majority of the works carried out housing construction, transportation, energy and other infrastructure projects. Made in these areas, our breakthrough in economic development on the one hand shows that our accumulated experience in strong support of the development of foreign project contracting, but also proved that China's construction enterprises overseas expansion has the comparative advantage is, that technical and cost comprehensive comparative advantages. From the analysis of the status of these can be seen, due to the scale, management, technical differences, China's construction enterprises operating overseas competition substantially in the SME model, that comparative advantage and cost advantage of stage, should be primarily to small Island clear comparative advantage theory, the theory of small-scale technologies Wales, Rao technology localization theory as the guiding theory of international development. Through theoretical analysis to guide the correct understanding of China's current competitive situation in which the engineering company after the combination of Chinese engineering companies operating overseas in various ways the advantages and disadvantages of commentary, focusing on how to take advantage of the current stage of construction in the country accumulated technology and manufacturing advantages for foreign project contracting. Currently the company's international operation works mainly divided into labor and technology export, general contracting (EPC), PMC and BOT, etc. It is a low to high gradual process of China's construction enterprises currently the main model has full access to the EPC mode. Thanks to this aspect of modernization in our accumulated technology and experience for overseas market development has laid a good foundation. At the same time, living in developing countries, China's construction enterprises have low labor costs and manufacturing materials and equipment manufacturing price advantage. It is this that is able to meet the requirements in the technical level, in terms of costs and benefit from lower economic levels of our comparative advantages, making our engineering firms in developing countries in Asia and Africa to undertake infrastructure works projects than in developed countries more competitive engineering company. A correct understanding of this advantage, has two meanings. On the one hand, to dig a similar potential to continue to expand and maintain this advantage. In recent years, the rapid development of small and medium sized power plant project is the rapid development of power infrastructure capacity outwardly extending instance. On the other hand, we must realize that the sustainability of this advantage. Overseas markets are all staged, only enhance their core competitiveness in order to win the long-term stable development, reduce the external market fluctuations and the negative impact of RMB appreciation. Final analysis of China's construction enterprises to explore overseas markets are facing difficulties and constraints, and from the government, industry associations and enterprises of China's construction enterprises for three levels of international operations proposed some countermeasures and suggestions. From the macro-policy point of view, China's construction enterprises in foreign project contracting process, often lack the means to avoid financial risks and financing channels for policy support, and encouragement, which requires countries to vigorously support from the policy level. Such as the establishment of international business development fund strategic preferential policies, the establishment of overseas investment risk fund, improve taxation, finance, insurance, foreign exchange and other policy measures. Throughout the history of the world economy, the industry will be the role of credit lines as engineering firms, government, market bridge between the staff, assistants, the line will guide cooperation, technical training, industry standards plays an important effect. China's construction industry for the current status of international development, industry associations should be further to the international project management theory system, operation mode, the relevant policy and legal conduct research, explore; actively participate in government policies and regulations formulated; through various academic seminars to promote domestic construction exchanges and cooperation between enterprises. From a business perspective, China's construction enterprises in the process of international operations behind the ubiquitous technology development, project management is not high degree of specialization, capital operation capability is weak, lagging information technology and risk management issues such as inadequate awareness. To solve these problems, companies must strengthen research and development, personnel training, the introduction of external strategic partners, deepen reform and other aspects of business, enhance their core competitiveness, proactively manage risk and opportunity in the international market. Main innovations of this paper is to compare the systematic and comprehensive engineering firms on the international operations of the current situation of the study, pointed out that the current stage of China's construction enterprises in the international operations in the competitive model is mainly based on the comparative advantages of technical and cost analyzes international operations are facing difficulties and constraints of the study, from the government, industry associations and enterprises of Chinese engineering company three levels of international operations proposed some countermeasures and suggestions.

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