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People's Daily Online>>China Business

China vows backing for firms investing abroad

By Hu Yinan and Zhang Yunbi (China Daily)

09:32, January 06, 2012

BEIJING - The suspension of a $3.6 billion joint hydropower project in Myanmar in September has sent alarming signals to Chinese companies investing in emerging markets, said Luo Zhaohui, director-general of the Asia Department of the Foreign Ministry.

Beijing will boost political diplomatic backing for its companies overseas, particularly in Asia, the most preferred and concentrated destination of Chinese investment, Luo said during an online interview on Thursday.

By the end of 2010, 71.9 percent of China's foreign direct investment, which totaled $300 billion, was based in Asia, official figures showed.

"As the scope of these companies broadens, the risks and challenges they face, such as shifts in political affairs, disruption by external factors and a lack of experience in operating internationally, are rising as well," said Luo, a former ambassador to Pakistan.

Thursday's interview, the first in a series with a dozen senior Chinese diplomats, was co-hosted by websites of People's Daily, China Daily, China News Service and the Foreign Ministry.

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