日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Economy

Markets

Industries

Insights

Reports

Events

State firms increase overseas investment

(China Daily)
Updated: 2009-09-18 08:40

The centrally-administrated State firms contributed 64 percent of China's overseas direct investment (ODI) in value last year, according to the Ministry of Commerce (MOC).

Eighty-six percent, or 117 out of the 136 centrally-administrated State-owned enterprises (SOE) invested a total of $35.74 billion last year, with the overall ODI amounting to $55.91 billion in 2008.

By the end of the year, the centrally-administrated SOEs extended their businesses into 127 countries by setting up or investing in 1,791 companies worldwide, MOC said.

The centrally-administrated SOEs are State firms that are under direct control of the State-owned Assets Supervision and Administration Commission.

Despite the economic downturn, most of the overseas businesses secured profits last year, with 79.9 percent of the firms profitable. However, 19 of the SOEs reported losses because of the offshore investments.

Related readings:  On China's rapid growth in outward FDI  Sinochem to bid for Iraqi oil assets  Australia-China iron ore mine given green light

China is encouraging domestic firms to "go out" in a bid to become real multinational corporations. China National Cereals, Oils and Foodstuffs Corporation, SinoChem Group and China Ocean Shipping Company are considered as multinational corporations based on the Transnationality Index, a gauge of international corporate involvement.

"The centrally-administrated State firms, with abundant funds, are keen on raw materials, such as iron ore, and commodities," said Han Qi, professor from the University of International Business and Economics.

While foreign direct investment inflow almost doubled last year, the significant growth in ODI subtly reversed the FDI-dominated capital flow.

"The state of pure capital inflow has been reversed," said Han. "China is entering into the equilibrium of capital inflow and outflow," she said.

According to Dealogic, China contributed 9 percent of the global merger and acquisition business in the first half of the year and 30 percent of Asia-Pacific region in terms of value.