Chinese MNCs' Global Influence Growing
By Joy Wang |
December 18, 2009, Friday
|
Print Edition
Print Edition
CHINESE multinational companies will see their influence on the world stage grow as their outbound investment expands strongly, a renowned scholar said yesterday.
Xue Qiuzhi, associate dean of the School of Management at Fudan University, said more Chinese enterprises will seek investments in technology abroad and to tap overseas markets, unlike the majority of companies now which venture abroad for natural resources.
But he cautioned that Chinese companies should be careful with advice from foreign consultants on overseas acquisitions because some of them may offer short-sighted or misleading strategies just to earn commissions from facilitating takeovers of foreign enterprises to offset their losses in the weak global economic climate.
"The number of Chinese multinational companies is growing, so too are their overseas assets," Xue said. "But making wrong investment is also on the rise. Companies should know and understand foreign markets thoroughly before they go."
A survey released yesterday by Xue's school and the Vale Columbia Center on Sustainable International Investment at Columbia University found most Chinese multinational companies were state-owned enterprises. CITIC Group, China Ocean Shipping (Group) Co and China State Construction Engineering Corp were the top three investors in overseas markets among the 18 firms it tracked.
Xue Qiuzhi, associate dean of the School of Management at Fudan University, said more Chinese enterprises will seek investments in technology abroad and to tap overseas markets, unlike the majority of companies now which venture abroad for natural resources.
But he cautioned that Chinese companies should be careful with advice from foreign consultants on overseas acquisitions because some of them may offer short-sighted or misleading strategies just to earn commissions from facilitating takeovers of foreign enterprises to offset their losses in the weak global economic climate.
"The number of Chinese multinational companies is growing, so too are their overseas assets," Xue said. "But making wrong investment is also on the rise. Companies should know and understand foreign markets thoroughly before they go."
A survey released yesterday by Xue's school and the Vale Columbia Center on Sustainable International Investment at Columbia University found most Chinese multinational companies were state-owned enterprises. CITIC Group, China Ocean Shipping (Group) Co and China State Construction Engineering Corp were the top three investors in overseas markets among the 18 firms it tracked.
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