Call on banks to help with firms' foray overseas (2)

He also said the earlier companies go overseas, the more advantages they will have.

By the end of 2012, China Tiesiju had projects under construction in seven countries - Ethiopia, Angola, Mauritania, Venezuela, Ecuador, Oman and Nepal - valued at $4.9 billion.

It undertook a railway line renovation project in western Venezuela in 2004, and built a railway in the country's northern plains six years later.

It completed the construction of 424 buildings in Angola in October last year.

He added that timing is crucial in overseas work, especially in developing economies.

If a company gains access to an overseas market in its early stages of development, it can quickly gain a strong foothold.

But if a company arrives too late, it is likely to meet strong competition, similar to China's domestic environment at present.

Xu said overseas business accounts for a quarter of China Tiesiju's revenues, and is expected to account for one-third in the near future.

He said its core business, construction, will account for a third, and investment the final third, resulting in a balanced corporate structure.