China's largest state-owned investment company to invest more abroad: vice president
China's State Development and Investment Corporation (SDIC) will fully institute the strategy of "going global" to invest and trade more abroad.
That's the word from SDIC Vice President Shi Hongxiang.
Shi told Xinhua during a recent interview in Moscow that the SDIC has fixed plans on further promoting its international growth by expanding international trade and projects and outbound investment.
The SDIC has established wholly owned subsidiaries of China SDIC International Trade Co. Ltd. and China National Complete Plant Import and Export Corporation (Group) to facilitate its international development.
He said the strategy of "going global" was a necessary choice for the SDIC.
After the 2008 global financial crisis, many countries have realized the flaws in their modes of economic development and have begun to transform their modes, Shi said.
He said that China has also proposed in its 12th Five Year Plan (2011-2015) the significance of the transformation.
The strategy, Shi said, plays an important role in this transformation.
Against the backdrop of globalization, "going global" is also a necessary step for a corporation in its climb to the top, Shi said.
Following that strategy, the SDIC has gradually expanded its markets in such countries as Russia, Australia, Indonesia, Burma and Jamaica.
Established on May 5, 1995, the SDIC is one of the key state-owned enterprises under the direct guidance of China's central authorities. As the largest state-owned investment holding company in China, its assets totaled 241.2 billion yuan (about 37.31 billion U.S. dollars).
Source: Xinhua
Weekly review !
That's the word from SDIC Vice President Shi Hongxiang.
Shi told Xinhua during a recent interview in Moscow that the SDIC has fixed plans on further promoting its international growth by expanding international trade and projects and outbound investment.
The SDIC has established wholly owned subsidiaries of China SDIC International Trade Co. Ltd. and China National Complete Plant Import and Export Corporation (Group) to facilitate its international development.
He said the strategy of "going global" was a necessary choice for the SDIC.
After the 2008 global financial crisis, many countries have realized the flaws in their modes of economic development and have begun to transform their modes, Shi said.
He said that China has also proposed in its 12th Five Year Plan (2011-2015) the significance of the transformation.
The strategy, Shi said, plays an important role in this transformation.
Against the backdrop of globalization, "going global" is also a necessary step for a corporation in its climb to the top, Shi said.
Following that strategy, the SDIC has gradually expanded its markets in such countries as Russia, Australia, Indonesia, Burma and Jamaica.
Established on May 5, 1995, the SDIC is one of the key state-owned enterprises under the direct guidance of China's central authorities. As the largest state-owned investment holding company in China, its assets totaled 241.2 billion yuan (about 37.31 billion U.S. dollars).
Source: Xinhua
Weekly review !
Editor
Comments