Latest News:  
Beijing   Sunny    29 / 17 ℃  City Forecast

English>>China Business

Chinese firms need "smart strategy" in overseas investment

(Xinhua)

08:26, August 23, 2012

HONG KONG, Aug. 22 (Xinhua) -- To sustain growth and move up the value chain amid global economic uncertainty, Chinese multinationals need to have a smart strategy in promoting overseas investment, Supachai Panitchpakdi, Secretary-General of the United Nations Conference on Trade and Development (UNCTAD) said here on Wednesday.

As an already favorite destination for foreign direct investment (FDI), China is "a key source of overseas investment as well," Panitchpakdi made the remarks in a keynote speech at the 2nd China Overseas Investment Summit (COIS) at the Hong Kong Conference and Exhibition Center, while indicating over the past decade, China's outward investment has grown by 25 percent, outpacing the increase of 6 percent for traditional investors from developed countries.

"As a result of this rapid expansion, China now ranks 9th among the top 10 investing countries globally with FDI outflows in 2011 outstanding at 65 billion U.S. dollars," he said, noting that the majority of them went to developing economies, especially those in Africa and Asia.

However, despite Chinese firms coming a long way in improving their competence in expanding global presence, more needs to be done.

"Chinese transnational businesses should move up the value chain... As Chinese economy becomes more knowledge and capital- extensive, there may be advantages for Chinese firms to relocate labor-extensive activities to other developing countries, particularly African nations, which, with an emerging population and a large market, could prove a real opportunity for Chinese manufacturing and services firms," he told a packed hall.


【1】 【2】



News we recommend:
Prices fly for Angry Birds' merchandise Wine imports give Chinese firms a hangover Spirited into the world of e-commerce
E-shopping fuels domestic consumption China's firms bigger but not necessarily better China's beauty industry profits from a makeover
Taxing times for China's tax reformers  Experts divided on yuan’s future [Audio]Soccer in China Part III: The Business Side

Email|Print|Comments(Editor:李倩、厉振羽)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Air-landing drill in desert

  2. Hey guys! Where should we put all these bikes?

  3. Right move in VAT direction

  4. Dancing competition held in E. China

  5. 24 Of The Hottest Body Paint

  6. How to marry a billionaire

Most Popular

Opinions

  1. Editorial:Corporate competitiveness
  2. WTO membership win-win step for Russia, world
  3. More representative delegates
  4. Do ratings agencies buoy Italy's optimism?
  5. Right move in VAT direction
  6. EU, China extend hands of friendship
  7. Editorial: Rules for stock market
  8. U.S.-S. Korea drills harmful to regional stability
  9. Wake-up call for industry
  10. Is Romney trounced, or has more tricks?

What's happening in China

Mercedes-Benz E-class owners to file lawsuit due to oil leak

  1. Shanghai exposes professional beggars
  2. Real estate financier held on fraud charges
  3. Chinese continue to seek residency overseas
  4. Controversial Hunan fine policy may be scrapped
  5. Army worm outbreak brought under control

China Features

  1. Classic routes for domestic self-driving tours
  2. Billionaires' marriage-seeking attracts women
  3. Top three nourishing foods in autumn
  4. Experts divided on yuan's future
  5. Unforgettable records of London Olympic Games

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai