|
Addendum Consequences
of Globalisation: Example China's OFDI Mainland firms invest $20.5b overseas in 3Q
Mainland
firms ramped up their overseas investments in the third quarter,
increasing their outbound investments 190.4% year-on-year to US$20.47
billion, the South China Morning Post
reported, citing the Ministry of Commerce (MofCom). According to
MofCom, Chinese outbound investment has reached US$32.87 billion this
year, and attributed much of the growth to government incentives.
State-owned enterprises (SOEs) led the investment charge abroad,
acquiring stakes in natural resource and manufacturing companies in 112
countries over the last nine months. The ministry said 43% of the total
investments were for controlling stakes. The statistics exclude
financial sector acquisitions. One of the largest deals in the third
quarter was Yanzhou Coal Mining's US$2.9 billion acquisition of
Australia's Felix Resources, which was approved by the Australian
government last week.
(China Economic Review, Oct. 28th, 2009)
|
