(Yicai Global) July 21 -- In a China Central Television (CCTV) news program broadcast July 18, Suning and other enterprises which invested in overseas football projects were named, and Sun Weimin, Suning Holding Group Co. vice president, said the firm firmly supports the country's foreign investment industrial policy.

Suning's industrial strategy has always been based on the development of the domestic market and it expands into overseas markets solely to serve the needs of domestic market development.

Relevant departments and central bank officials have repeatedly 'trumpeted' overseas investment risks this year, including irrational investments in the sports sector.

On July 18, a spokesman for the National Development and Reform Commission said the authorities' concern will continue to focus on the irrational foreign investment risks in real estate, hotels, studios and sports clubs, and recommended that enterprises concerned in such ventures proceed with caution.

After CCTV named him on July 18th, Sun Weimin said that Suning's investment in Inter Milan FC is to serve the operations of domestic football clubs. On the one hand, it is to further study foreign experience, introduce advanced management technology and training systems, and improve the domestic football level. On the other hand, it also relies on Inter Milan to enhance the international influence of Suning's brand, and promote overseas expansion of the Suning retail network to make China-made products more accessible overseas.

Suning chairman Zhang Jindong stated at the China-US Business Summit that Suning will further respond to the development strategy of the Belt and Road, Sun Weimin said.