The US announced on June 28 that China will receive a six-month exemption from unilateral US sanctions over imports of Iranian oil. The decision has helped avoid direct diplomatic conflict and possible trade war between the two countries, and is widely viewed as the result of compromise. The US has actually displayed its policy flexibility on the issue. “A total of 20 world economies have now qualified for such an [...]
“We are the 99 percent” is the slogan of the “Occupy Wall Street” protesters who want to express their discontent with what they view as the greed and corruption of the wealthiest 1 percent of the population in the United States. According to a report by the US Office of Management and Budget released on Oct 2011, from 1979 to 2007 the income of the wealthiest 1 percent of the [...]
China has been involved with making acquisitions abroad for only a short time, but despite several challenges, there are huge opportunities that should be seized Vice chairman and general manager, China Investment Corporation Chinese overseas investment has grown from zero before reform and opening-up in the late 1970s into a behemoth today. It is projected that the total will reach US$500 billion during the 12th Five-Year Plan, which covers 2011 [...]
The Asia/Oceania region’s share of foreign direct investment (FDI) in Canada more than doubled in the past ten years, with China contributing the most, Statistics Canada said on Friday. A newly-released report by the agency showed that over the past 10 years, the share of the Asia/Oceania region of FDI in Canada has grown from 4.5 percent in 2001 to 11.2 percent in 2010. Much of the gain came from [...]
PetroChina announced a major deal Thursday as the company prepares to invest $5.4 billion in Canadian gas producer Encana, a deal that analysts say will secure a stable energy source to feed Beijing’s rising demand and raise its profile in the global energy market. In the country’s largest overseas natural gas investment, PetroChina is to inject billions to fund a 50-50 joint venture with Encana, North America’s top gas producer, [...]
PetroChina Co Ltd, China’s largest oil producer, announced Thursday that it has agreed to buy a 50-percent stake in a natural gas project with North American gas giant Encana Corporation for 5.4 billion Canadian dollars ($5.43 billion). The cooperation agreement between Encana and PetroChina International Investment Company Limited, a subsidiary of PetroChina, allows PetroChina to acquire a 50-percent interest in Encana’s Cutbank Ridge business assets in British Columbia and Alberta, [...]
“I’m really happy for still having a job here,” Rick Oberski, a 54-year-old worker with Neapco Drivelines, a subsidiary of Chinese auto supplier Wanxiang Group, told Xinhua Monday on the plant floor. Rick has to support his family, including three kids and his wife, all by himself, which was a heavy task in the tough period of 2008, when his former employer Automotive Components Holdings (ACH) Monroe Plant struggled to [...]
The author is chairman and president of Export-Import Bank of China. China’s investment climate hasn’t deteriorated, intervention measures to promote indigenous innovation are justified Has China’s investment climate deteriorated, as recent Western comments would suggest? The simple answer is no. Ample facts and statistics prove that China has set up no barriers to foreign companies. In 2009, 55 percent of the government’s procurement contracts of mechanical and electronic products were [...]
The author of the article is chairman and president of Export-Import Bank of China. China’s investment climate hasn’t deteriorated and promoting indigenous innovation is justified. Recently, some government officials, companies and the media in the US and Europe expressed concerns over the procurement and indigenous innovation policies of China, and thereby alleged that China’s investment climate had deteriorated. Indigenous innovation became another hot topic, next only to the RMB exchange [...]
China Investment Corp (CIC) helped refinance a Manhattan office tower co-owned by Carlyle Group last year, another sign that the $300 billion sovereign wealth fund is stepping up its US real estate investments. CIC joined forces with AREA Real Estate Finance Corp of New York to buy an unspecified preferred equity stake in 650 Madison Ave, the 27-storey building that is headquarters of Polo Ralph Lauren Corp, said Bradford Wildauer, [...]