Chinese companies warned of 'risky' foreign investments
This year, 19 Chinese enterprises made the top 500 for global multinationals.
By PTI |
BEIJING: China will help businesses to go global but domestic enterprises must take precautions against economic, political and personal risks as they step up their investments abroad, Commerce Minister Bo Xilai has said.
Noting that global conditions have grown more complicated in recent years, Bo said, "I expect them (Chinese enterprises) to avoid disorderly competition while studying the global marketplace to sharpen their competitive edge."
"In addition, they should pay attention to personal security problems," he said, referring to cases where Chinese people living and working overseas have been robbed or murdered.
Bo said the Chinese Government will spare no effort to help Chinese enterprises invest safely abroad by facilitating agreements and working with local governments.
"On the policy level, we should create a stable environment for Chinese investors to ensure their security and to support them in terms of taxation, financing and insurance," he was quoted as saying by 'China Daily'.
He added that China's embassies in investment destination countries must provide information and ensure the personal safety of Chinese investors' staff.
After years of growth, many Chinese enterprises have accumulated resources and expertise for overseas expansion in such areas as construction, telecommunications, tourism and commerce.
This year, 19 Chinese enterprises made the top 500 for global multinationals, and 49 civil engineering firms made it to the list of the world's top 250 constructors.
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