Latest News:  
Beijing   Cloudy/Sunny    4 / -7   City Forecast

People's Daily Online>>China Business

Chinese firms seek overseas expansion in crisis, lending hands to global recovery


09:24, December 29, 2011

BEIJING, Dec. 28 (Xinhua) -- While many transnational companies tighten investment in developed economies in face of a lingering economic crisis to ease profit declines, Chinese firms see possibilities of making their investments mutually beneficial there.

China Three Gorges Corp.(TGC), the operator of the world's biggest dam, last week won a bid to buy a 21-percent stake in the Portuguese utility Energias de Portugal for 2.69 billion euros, marking the first time for a large Chinese firm to join the privatization of eurozone nations amid the continent's debt crisis.

The deal is Portugal's first and biggest project of a privatization programme under a 78-billion-euro bailout package agreed by the EU and the International Monetary Fund (IMF) in May. It is also expected to boost the Chinese power generator's overseas expansion.

The move highlights the willingness of Chinese firms to invest and help invigorate struggling economies against the backdrop of the worsening eurozone debt crisis and rising global uncertainties.

Portugal's Treasury Secretary Maria Luis Albuquerque hailed the TGC proposal as "a vote of confidence in the Portuguese economy."

The desire of Chinese investment, which can bring local jobs and help consumers, is again on a rise in the EU and the United States based on confidence in China's growth, said Lin Shunjie, deputy secretary general of the China Chamber of International Commerce.

【1】 【2】 【3】


Leave your comment0 comments

  1. Name


Selections for you

  1. Workers set up Chinese red lanterns around Temple of Heaven

  2. Wall Street ends flat for year despite a big volatile year

  3. In Pictures: Iranian naval maneuvers enter 7th day

  4. As Spring Festival coming, more than 100 migrant workers still stay in Zhengzhou

Most Popular


  1. Japan's case of flawed priority
  2. Move to send 'alarming signal' across Asia
  3. EU's airline carbon tax may backfire
  4. Asian countries refuse to 'take side'
  5. US uses 'hedging strategy' to deal with China's rise
  6. What is behind US 'Return-to-Asia' strategy?
  7. China's GDP growth may slow to 8 pct in 2012
  8. China's economy not to suffer a hard landing
  9. Common interests prevent 'Cold War'
  10. War-related carbon emissions deserves attention

What's happening in China

As Spring Festival coming, more than 100 migrant workers still stay in Zhengzhou

  1. Beijing tourism realizes great lead forward
  2. Panda shows carnivorous side
  3. Local governments quiet on housing restrictions
  4. Shenzhen finds cancer-causing mildew in food
  5. China busts counterfeit drug racket

PD Online Data

  1. Traditional Mooncakes
  2. About Mooncakes
  3. History of Mooncakes
  4. Modern Mooncakes
  5. Legends of Mid-Autumn Festival