"Going global" is the latest ambition unveiled by the State Development and Investment Corp (SDIC), China's major investment holding company. The plan was outlined by the company's president, Wang Huisheng, when he told China Daily recently: "The highlight of our next phase of strategic development will be penetrating overseas markets."

The move follows a period of huge expansion for the company that Wang likes to see China's answer to Temasek Holdings, the hugely successful investment company established by the government of Singapore.

By April of this year, SDIC had developed a range of investment portfolios with total assets worth some 1.8 trillion yuan. These include coalmines, electric power stations, ports, chemical fertilizer manufacturers, fund and asset management companies, and finance houses across China