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China's investments in overseas markets to rise


15:05, November 15, 2012

Chinese firms seem to be more confident again to invest in overseas markets. In the first nine months, China's outbound investments jumped nearly 30 percent year-on-year, reaching $52.5 billion.

"I think they are doing well. They acquire businesses in the US, Europe, Africa, it's a good timing because prices are low, and they are selective in the ways they make acquisition. We think the trend will continue, because as foreigners have done here, if you want to be a global company, you have to have presence including acquisitions in various parts of the world. I'm sure that Chinese companies will continue to invest," Gerard Worms, chairman of International Chamber of Commerce, said.

Although China is actively expanding their presence in the global markets, its overseas investment is still hitting bumpers in overseas markets. This year, A US congress report suggests the US government not to do business with Huawei and ZTE, two Chinese leading telecom providers.

"Huawei and ZTE seek to expand in the United States but as a result of our investigation we do not have the confidence that these two companies with their ties to the Chinese government can be entrusted with infrastructure of such critical importance," Mike Rogers, Michigan Congressman, said.

Li Zongwei is a senior executive of a Chinese company. He worked in the US for many years. He says the lack of trust rooting from two different systems is a fundamental issue for Chinese firms to do business in overseas markets.

So far, the size of China's outbound investments is still comparatively small, ranking on the 13th place in the world at the end of 2011. The government is currently implementing policies to encourage more Chinese enterprises to invest globally.

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