China's overseas investment tops $91 billion in first 9 months of this year
BEIJING: Deep-pocketed state-owned giants continued to lead China Inc's acquisition spree overseas, driving Chinese investments up by 20 per cent to a record high of US$73 billion (S$91 billion) in the first nine months of this year, a new study showed.
Still, Chinese private enterprises are starting to become more aggressive in making deals abroad, especially in the United States - which is perceived as an "easier place to do business" - and in Europe, where the sovereign debt crisis earlier this year had thrown up attractively-priced assets for sale.
While state-owned enterprises (SOEs) remained the "driving force" accounting for 75 per cent of the Chinese mergers and acquisitions deals abroad, "private investors are going for bolder moves and developed markets", a study by private equity fund A CAPITAL showed.
A CAPITAL counts Chinese sovereign wealth fund China Investment Corporation (CIC) and the Belgium government holding company Belgian Holdings SFPI as its key investors.