The 2nd China Foreign Investment Cooperation Fair, jointly organized by the China Overseas Industry Development and Planning Association and the China Development Bank, kicked off at the China International Trade Center from November 2nd to 3rd. More than 200 representatives from government investment agencies and multinational corporations and thousands of merchants from more than 100 countries and regions participated in this fair. They hoped to understand the current status, policies, and information of China’s foreign investment.
"China, as a traditional recipient of foreign capital, is now emerging as a major investor in foreign investment," said Tesfachu, director of investment and strategic planning at UNCTAD, at the conference.
Overseas mergers and acquisitions are still in their infancy. Currently, large global mining companies control most of the strategic resources such as oil and gas, copper and iron ore. Due to the pull of China's demand for imports, the prices of mineral commodities have risen sharply. Large mining companies see this demand in China has accelerated the integration of global resources, and Chinese companies are also accelerating the pace of overseas development, setting off a wave of mergers and acquisitions in the resource sector.
At the “Global Allocation: Strategic Choice for Resources Investment†forum held on the morning of November 3rd, Xiong Weiping, general manager of China Aluminum Corporation [12.56 1.37%] pointed out that China has failed to obtain matches with key players and manufacturers of global resources. Resource ownership and development status. For example, the top five producers in the world control 54% of the bauxite resources, which is higher than OPEC's control over oil supply. None of the five companies are Chinese companies. Therefore, Chinese companies must allocate mineral resources globally through commercialization.
According to reports, more than 4,000 global mining mergers and acquisitions transactions last year amounted to more than US$60 billion, and this year it reached US$127 billion. Since the beginning of this year, Chinese companies’ overseas mergers and acquisitions reached 43.1 billion U.S. dollars, and mining and metal industry mergers and acquisitions were 16.1 billion U.S. dollars, accounting for 27% of the world's total.
"Chinese companies already have the conditions for overseas development." Xiong Weiping said, but at present China's overseas mergers and acquisitions are still in their infancy. They are characterized by focusing on resources, focusing on central enterprises, and mainly on medium-sized transactions.
At the same time, he also pointed out that although Chinese companies are accelerating overseas investment, China Mining [0.23 0.00%] companies face challenges in overseas M&A development because Chinese companies have difficulty accessing advantageous resources. International corporations preemptively monopolize dominant resources, while Chinese companies mostly belong to projects with small scale, large investment, and difficult mining. After the acquisition, Chinese companies must also face the challenge of subsequent difficulty in business integration.
“Because of the lack of negotiation capabilities, the impact of intermediary agencies and the impact of the market and regulatory agencies, Chinese companies have to pay higher acquisition premiums during the acquisition.†Xiong Weiping said, therefore, Chinese companies must now be underdeveloped and have resources and energy. Rich countries to develop mineral resources.
In addition, Xiong Weiping also proposed the development of China Aluminum Corporation. The company's strategic transformation from a single aluminum company to a multi-metals international mining company will take three years and is progressing smoothly. Chinalco’s overseas development will follow three principles: First, complement each other's advantages and complement each other with foreign mining companies; second, comply with local laws and regulations and respect cultural customs; third, regulate operations, operate in accordance with international practices, and make information public Transparent.
“The aluminum industry must take the path of low energy consumption and gradually shift the production of high energy consumption and primary products overseas, and focus on high value-added deep processing products,†said Chen Jinya, president of Alcoa Asia Pacific and president of Alcoa China.
Overseas mergers and acquisitions have become the main form of foreign investment. "China, as a traditional recipient of major foreign capital, is now emerging as a major investor in foreign investment." Tesfalchu, director of investment and strategic planning at UNCTAD, said at the forum on the 2nd that finance Since the crisis, global investment has gone through a severe test, and China, whether as a capital-absorbing party or a capital-exporting party, has stood out. In particular, China’s foreign investment has been growing at an average annual growth rate of about 80% over the past decade. Rapid growth.
Zhang Xiaoqiang, deputy director of the National Development and Reform Commission, said that from January to September this year, Chinese investors again invested in 2,246 overseas companies in 118 countries and regions, accumulatively achieving non-financial direct foreign investment of US$36.3 billion, which was a year-on-year increase. 10.4%. Up to now, the total assets of China’s overseas companies have exceeded US$1 trillion, and the net foreign direct investment has accumulated 245.75 billion U.S. dollars, ranking 15th in the world and 3rd in the developing economy.
An important manifestation of the optimization of China's capital output structure is that overseas mergers and acquisitions have become China's main form of foreign investment. Lu Jinyong, director of the China FD I Research Center of the University of International Business and Economics, said at the forum that China’s overseas brand mergers and acquisitions have continued to increase in recent years. In 2008, the acquisition and merger amounted to 30.2 billion U.S. dollars, accounting for 54% of China's foreign direct investment during the year; in 2009, direct investment through acquisitions and mergers reached 17.5 billion U.S. dollars, accounting for 31% of the current year's traffic. This shows that mergers and acquisitions over the new construction has become China's main form of foreign investment.
“Even if we keep an average annual growth rate of 30%, China’s annual foreign investment will reach US$350.7 billion by 2015, and it will become the world’s largest foreign investor,†said Lu Jinyong.
However, Zhang Jijing, deputy general manager of the China CITIC Group’s managing director, also pointed out that there are two voices in the current foreign direct investment strategy for Chinese companies. One is that the era of China's foreign direct investment has come. It is now a good time for Chinese companies to squaring their overseas assets. On the other hand, the view is that the acquisition of foreign companies by Chinese companies has been in trouble in recent years, and merger and acquisition failures have occurred from time to time. Chinese companies still have a long way to go if they want to succeed in direct foreign investment.
"China, as a traditional recipient of foreign capital, is now emerging as a major investor in foreign investment," said Tesfachu, director of investment and strategic planning at UNCTAD, at the conference.
Overseas mergers and acquisitions are still in their infancy. Currently, large global mining companies control most of the strategic resources such as oil and gas, copper and iron ore. Due to the pull of China's demand for imports, the prices of mineral commodities have risen sharply. Large mining companies see this demand in China has accelerated the integration of global resources, and Chinese companies are also accelerating the pace of overseas development, setting off a wave of mergers and acquisitions in the resource sector.
At the “Global Allocation: Strategic Choice for Resources Investment†forum held on the morning of November 3rd, Xiong Weiping, general manager of China Aluminum Corporation [12.56 1.37%] pointed out that China has failed to obtain matches with key players and manufacturers of global resources. Resource ownership and development status. For example, the top five producers in the world control 54% of the bauxite resources, which is higher than OPEC's control over oil supply. None of the five companies are Chinese companies. Therefore, Chinese companies must allocate mineral resources globally through commercialization.
According to reports, more than 4,000 global mining mergers and acquisitions transactions last year amounted to more than US$60 billion, and this year it reached US$127 billion. Since the beginning of this year, Chinese companies’ overseas mergers and acquisitions reached 43.1 billion U.S. dollars, and mining and metal industry mergers and acquisitions were 16.1 billion U.S. dollars, accounting for 27% of the world's total.
"Chinese companies already have the conditions for overseas development." Xiong Weiping said, but at present China's overseas mergers and acquisitions are still in their infancy. They are characterized by focusing on resources, focusing on central enterprises, and mainly on medium-sized transactions.
At the same time, he also pointed out that although Chinese companies are accelerating overseas investment, China Mining [0.23 0.00%] companies face challenges in overseas M&A development because Chinese companies have difficulty accessing advantageous resources. International corporations preemptively monopolize dominant resources, while Chinese companies mostly belong to projects with small scale, large investment, and difficult mining. After the acquisition, Chinese companies must also face the challenge of subsequent difficulty in business integration.
“Because of the lack of negotiation capabilities, the impact of intermediary agencies and the impact of the market and regulatory agencies, Chinese companies have to pay higher acquisition premiums during the acquisition.†Xiong Weiping said, therefore, Chinese companies must now be underdeveloped and have resources and energy. Rich countries to develop mineral resources.
In addition, Xiong Weiping also proposed the development of China Aluminum Corporation. The company's strategic transformation from a single aluminum company to a multi-metals international mining company will take three years and is progressing smoothly. Chinalco’s overseas development will follow three principles: First, complement each other's advantages and complement each other with foreign mining companies; second, comply with local laws and regulations and respect cultural customs; third, regulate operations, operate in accordance with international practices, and make information public Transparent.
“The aluminum industry must take the path of low energy consumption and gradually shift the production of high energy consumption and primary products overseas, and focus on high value-added deep processing products,†said Chen Jinya, president of Alcoa Asia Pacific and president of Alcoa China.
Overseas mergers and acquisitions have become the main form of foreign investment. "China, as a traditional recipient of major foreign capital, is now emerging as a major investor in foreign investment." Tesfalchu, director of investment and strategic planning at UNCTAD, said at the forum on the 2nd that finance Since the crisis, global investment has gone through a severe test, and China, whether as a capital-absorbing party or a capital-exporting party, has stood out. In particular, China’s foreign investment has been growing at an average annual growth rate of about 80% over the past decade. Rapid growth.
Zhang Xiaoqiang, deputy director of the National Development and Reform Commission, said that from January to September this year, Chinese investors again invested in 2,246 overseas companies in 118 countries and regions, accumulatively achieving non-financial direct foreign investment of US$36.3 billion, which was a year-on-year increase. 10.4%. Up to now, the total assets of China’s overseas companies have exceeded US$1 trillion, and the net foreign direct investment has accumulated 245.75 billion U.S. dollars, ranking 15th in the world and 3rd in the developing economy.
An important manifestation of the optimization of China's capital output structure is that overseas mergers and acquisitions have become China's main form of foreign investment. Lu Jinyong, director of the China FD I Research Center of the University of International Business and Economics, said at the forum that China’s overseas brand mergers and acquisitions have continued to increase in recent years. In 2008, the acquisition and merger amounted to 30.2 billion U.S. dollars, accounting for 54% of China's foreign direct investment during the year; in 2009, direct investment through acquisitions and mergers reached 17.5 billion U.S. dollars, accounting for 31% of the current year's traffic. This shows that mergers and acquisitions over the new construction has become China's main form of foreign investment.
“Even if we keep an average annual growth rate of 30%, China’s annual foreign investment will reach US$350.7 billion by 2015, and it will become the world’s largest foreign investor,†said Lu Jinyong.
However, Zhang Jijing, deputy general manager of the China CITIC Group’s managing director, also pointed out that there are two voices in the current foreign direct investment strategy for Chinese companies. One is that the era of China's foreign direct investment has come. It is now a good time for Chinese companies to squaring their overseas assets. On the other hand, the view is that the acquisition of foreign companies by Chinese companies has been in trouble in recent years, and merger and acquisition failures have occurred from time to time. Chinese companies still have a long way to go if they want to succeed in direct foreign investment.
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