Latest News:  
Beijing   Cloudy    11 / 1 ℃  City Forecast

English>>Business

Chinese firms' push into global market to hit record (2)

By Li Jiabao (China Daily)

08:33, December 04, 2012

They will be available to guide companies in the often-complex legal and regulatory conditions of key markets around the world, as well as working to promote the image of the country globally.

Commerce Minister Chen Deming said last week that Chinese non-financial ODI is likely to pass $70 billion in 2012 and that the surging momentum will drive ODI close to foreign direct investment in China in the next five or 10 years.

Zhang Yun, president of the Agricultural Bank of China Ltd, added that despite the stuttering recovery in the world economy, he expected China's ODI to keep growing apace, through a combination of external opportunities and internal driving forces.

"The financial crisis of 2008 created investment opportunities. The process of restructuring assets and optimizing resource allocations has quickened in China with overseas countries now welcoming Chinese investment.

"The expansion of the country's economy and the progress of renminbi globalization also serves as international motivation," Zhang said.

In his report to the 18th National Congress of the Communist Party of China, President Hu Jintao called on Chinese enterprises to speed up their global activities by enhancing their international capacities and reputations.

According to Liang Yutang, deputy head of China Minsheng Banking Corp Ltd, the organization has plans for a $10 billion fund to help private enterprises invest overseas over the next three years.

"ODI by private companies accounted for 44 percent of China's total ODI by the end of 2011. Private companies are more dynamic than State-owned ones, and have become an emerging force in the overseas investment market," he said.

【1】 【2】 【3】



We recommend:

China's first rail to 'sea of death' starts operation

Sales of Samsung's Galaxy Note 2 tops 5mmark

Beijing-Guangzhou high-speed rail to open

10th China Int'l Automobile Exhibition concludes

Shanghai Center Tower to rise over 400m

New wave of communication tools

HK's MTR buys first China-made locomotives

China's savings rate world's highest

Self-owned brands account for 11% of exports

Email|Print|Comments(Editor:梁军、马茜)

Related Reading

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Weekly review of military photos (2012.11.26-11.30)

  2. China-U.S. joint tabletop exercise held

  3. The World in Photos (2012.11.23-12.1)

  4. Photos of China 30 years ago

  5. Blizzard hits Northeast China

  6. Turnover at Tmall, Taobao tops 1 trillion RMB

  7. American couple set up a home for orphans in China

  8. Chocolate Chinese chess

Most Popular

Opinions

  1. Bigger global role for RMB in 2013
  2. Income doubling goal needs strategy
  3. Victims of sexually explicit photographs
  4. Student questions China's education system
  5. US investors 'choosing to stay in China'
  6. Solar industry gaining strength from home market
  7. China a very 'important, exciting' market
  8. West needs new view on China
  9. Level playing field for private firms
  10. Much room for China-ASEAN economic co-op

What’s happening in China

Photos of China 30 years ago

  1. Urumqi witnesses snowfall
  2. Hong Kong Int'l Boat Show 2012 kicks off
  3. Man sentenced to death for 6 sex slaves, murders
  4. Woman gets throat slit during break up
  5. 2 rescued, 14 trapped in flooded colliery