Chinese FDI: State-owned enterprises (SOEs) are driving the accelerating pace of Chinese overseas investments, according to a report compiled by the State-Owned Assets Supervision and Administration Commission of the State Council (SASAC) and presented to the National People’s Congress Standing Committee by its director Xiao Yaqing last week.
FDI outflows emanating from China’s centrally-administered organisations now accounted for 60% of the country’s total non-financial foreign direct investment, the former CEO of the CHINALCO aluminium multinational told the commission.
SOEs were now diversifying from energy and minerals into high-speed railways, nuclear power plants and ultra high voltage (UHV) electricity transmission, he said, and had achieved some major R&D breakthroughs in the fields of 4G mobile communication and deep-sea exploration as well of rail and electricity.After the US and Japan China was the third largest investor in the world after the United States and Japan, the United Nations Conference on Trade and Development (UNCTAD) reported last month, with FDI outflows from the mainland reaching $128bn last year.
State-owned enterprises driving Chinese FDI, SASAC chief reports
Source: xinhuanet