As more Chinese companies invest overseas and acquire foreign companies, trust is needed to dissolve doubts over their finances and motivations.
Understandably, regulators in some developed countries, where most major recent Chinese acquisitions are based, have become cautious in their approvals, questioning whether the companies are financially qualified for such huge deals.
They also assume Chinese investors are simply seeking to transfer their money out of China due to the domestic economic slowdown, with little interest in the success of the acquired brands. Some even suspect the capital comes with ideological or political attachments, implying the money has government connections.
Such doubts were highlighted in the recent bidding war between Chinese insurer Anbang and international hotel giant Marriott over Starwood Hotels, which owns the Sheraton and Westin brands.
If completed, the acquisition would be the largest ever by a Chinese company in the United States as Anbang raised its offer to almost 14 billion U.S. dollars this week.
Experts have warned about Anbang's financial soundness because its bid for Starwood includes capital support from state-owned banks, and its ownership remains unclear to outsiders.
On the one hand, Chinese companies such as Anbang should show good will by making their financial statements more transparent to gain the trust of foreign regulators.
However, overseas regulators should show Chinese companies the same trust they give other foreign investors based on laws and regulations.
The long-held bias against Chinese businesses, including the suggestion they are financial tools or weapons of the government, has been repeatedly proved groundless.
The West was similarly suspicious when Chinese carmaker Geely bought Volvo and PC maker Lenovo eyed IBM, but time has shown the truth. These mergers and acquisitions have not only failed to threaten national security, but have created jobs and generated taxes.
In fact, after almost four decades of economic reforms and opening up, Chinese companies have become more market-oriented and profit-driven than most foreigners realize.
China is not the country it was two or three decades ago. The world has to get used to Chinese spending money abroad as the country's businesses and people become wealthier.
Of course, if Chinese companies violate laws and regulations abroad, they should be punished accordingly, but the bottom line is that they should be treated the same as any other company.
Doubts over the management abilities of Chinese businesses have also hindered their overseas expansion. Cultural differences only make that worse.
The solution, of course, lies mainly in the hands of the Chinese companies themselves. Adhering to international norms is fundamental if they truly want to "go global."
