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Companies investing overseas
CHINESE companies' foreign investments jumped more than fourfold in the first quarter as the government encouraged spending overseas to help cut a surging trade gap.
Foreign direct investments rose to US$19.3 billion in the period, Vice Minister of Commerce Chen Jian said at an investment forum in Beijing yesterday. That compares to US$18.7 billion for the whole of 2007.
China has pledged to help companies invest overseas as it seeks to curb a trade surplus that threatens to overheat the economy, Bloomberg News said. Inflation has already hit an 11-year high, partly because of a flood of cash from Chinese exports.
The government is to talk to other countries about lowering barriers for Chinese companies to invest abroad.
chinajob This entry was posted on May 12th, 2008 at 10:51:17 am by ChinaJob and is filed under News of China.