Chinese-funded enterprises have 50 large-scale projects in Libya

14:54, March 23, 2011      

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Chinese-funded enterprises are currently contracted for a total of 50 large-scale projects in Libya involving 18.8 billion U.S. dollars, and the political unrest in Libya indeed has caused a considerable impact on Chinese-funded enterprises, said Yao Jian, spokesperson for the Ministry of Commerce, during a regular press conference on March 22.

Yao said that the West Asia and North Africa area is important for China's investments and that China and this region have a relatively sound economic and trade cooperation mechanism and corresponding working mechanism. Therefore, the Chinese government will protect Chinese-funded enterprises in Libya and in the West Asia and North Africa region from being affected by the unrest.

Yao also said that it is expected that along with the implementation of the 12th Five-Year Plan, China's overseas investments may exceed China's absorption of foreign investment in the next five to 10 years. Therefore, it is very important to establish an effective security system for outgoing Chinese investments.

By People's Daily Online
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