A recent Guangming Daily commentary advises that state-owned enterprises should learn to avoid commercial and political risks when making overseas investments. Among the US$18.8 billion worth of contractual projects of Chinese enterprises in Libya, commercial insurance only covered less than 400 million Chinese yuan (US$61.50 million) of the loss. The rest of the investment in Libya has been “left to God’s mercy.”
Source: Guangming Daily, May 23, 2011
http://politics.gmw.cn/2011-05/23/content_1992697.htm