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China’s Investments in Europe Doubled in 2010

According to Chen Jian, China’s Vice Minister of Commerce, China’s 2010 investments in Europe jumped to US$6.8 billion, registering a 102 percent growth over the previous year. Europe accounts for 10 percent of China’s total foreign investment.

According to the Commerce Ministry, China’s total foreign investment reached US$68.8 billion in 2010. Spread over 178 countries and regions, 70 percent was in Asia, followed by Africa and then Latin America. The statistics showed that State Owned Enterprises accounted for most of the companies making foreign investments overseas.

It was reported that the challenges these Chinese enterprises face are in the areas of business strategy, environment, national resource management, and human resources. Yao Zhizhong, Director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, stated that, in addition, they face “notions coming from the European countries.” “The EU should loosen its restrictions on Chinese enterprises and break through its notions and prejudice against Chinese companies.”

Source: People’s Daily Oversea’s Edition, September 30, 2011