Chinese companies have been investing more in non-financial overseas sectors this year. The first three quarters of 2011 saw them invest $40.8 billion in these sectors, a 12.4% increase from a year earlier.
As Adam Roseman of ARC China reported in his weekly newsletter, “The NDRC granted its provincial arms more authority in approving overseas investment in February, a step toward giving enterprises a greater say in investment project decisions.
Under the new rule, companies planning to invest less than $300 million in the resource sector, or less than $100 million in other industries overseas, only need approval from provincial economic planners, and not from the NDRC.”
Adam Roseman also reported on updates provided by Zhang Xiaoqiang, the deputy director of the National Development and Reform Commission (NDRC). During the third China Overseas Investment Fair in Beijing, Xiaqiang reported that, “Chinese companies have been investing vigorously in foreign countries this year, despite the global slowdown in international investment activity caused by faltering economic recovery.”