Confidence spurs forays overseas
By Hu Xiaocen |
January 24, 2013, Thursday
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Print Edition
Print Edition
CHINESE companies are becoming increasingly confident in venturing overseas to expand trade and cement their presence on a global scale, a private survey showed yesterday.
About four in every five international Chinese corporations surveyed by HSBC plan to boost overseas expansion, the biggest European bank said in a report.
"It is a reflection of the continued positive sentiment of Chinese companies which are confident in their ability to expand internationally, despite the economic climate overseas," Noel Quinn, head of commercial banking for HSBC Asia Pacific, said in the report.
The Chinese companies are no longer relying solely on price to compete globally but are trumpeting their solid financial strength, advanced technology and production lines, HSBC said in the survey of more than 200 firms with operations overseas.
About four in every five international Chinese corporations surveyed by HSBC plan to boost overseas expansion, the biggest European bank said in a report.
"It is a reflection of the continued positive sentiment of Chinese companies which are confident in their ability to expand internationally, despite the economic climate overseas," Noel Quinn, head of commercial banking for HSBC Asia Pacific, said in the report.
The Chinese companies are no longer relying solely on price to compete globally but are trumpeting their solid financial strength, advanced technology and production lines, HSBC said in the survey of more than 200 firms with operations overseas.
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