Transnationalization of Chinese business

Abstract

In order to achieve China’s development goals – to become a global leader and shift to an innovative path of development – it is necessary to reformat its foreign economic relations on the model of developed countries. The transition to stimulating domestic demand requires intensification of the country’s participation in the transnationalization of Chinese business, which should ensure the structural restructuring of the economy and increase the welfare of the population. Thanks to globalization, changing the sectoral structure of the national economy is possible only through influencing the sectoral structures of foreign countries. To this end, the “one belt and one road” initiative is being implemented. Th ere is an increasing interdependence of the Chinese and global economy, so the development plans of the PRC today more than ever depend on the actions of foreign partners, and can only be implemented in the case of an appropriate international military and political situation. The article analyzes the specific transformation directions of China’s economic model that contributed to the improvement of the industry
structure and the welfare growth of the Chinese population, which, in our opinion, should be taken into account when modernizing the Russian economy and solving urgent social problems.