More private Chinese companies to invest abroad
September 17, 2012 Category Foreign investment, Weekly
At the end of the year, 18,000 Chinese firms had invested in 177 countries with a cumulative investment of USD424.78 billion and assets totaling USD2 trillion. “Chinese private companies, due to their special advantage of being flexible and ability to break into markets, are gradually becoming a major force in China’s going out strategy,” said National Development and Reform Commission (NDRC) Vice Chairman Zhang Xiaoqiang. Private firms would be encouraged to invest in infrastructure, oil, gas, and even military industries overseas, which are currently dominated by SOEs.
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