By Ilan Alon
This publication offers authoritative educational insights into the options of chinese language overseas Direct Investments in Europe, Asia, Africa and the Americas. unusual authors from internationally will contribute to the starting to be literature on OFDI (outward international direct funding) from China.
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Additional info for Chinese International Investments
Except for the formal institutional frameworks discussed above, informal institutions – especially when non-existent or non-enforced legal systems fail to support business – inﬂuence ﬁrms’ overseas investments. 3 Top 50 non-ﬁnancial Chinese enterprises ranked by OFDI stocks (2009) No. , Ltd. 3 (Continued) No. Enterprise name Main business Firm type 16 China Unicom Corporation Telecommunications Centrally controlled SOE 17 China State Construction Engineering Corporation Civil construction Centrally controlled SOE 18 China Power Investment Corporation Electric power, investment, engineering Centrally controlled SOE 19 China Huaneng Group Electric power, ﬁnance, resource, ﬁnance Centrally controlled SOE 20 China National Chemical Corporation Chemical engineering Centrally controlled SOE 21 China Mobile Communications Corporation Telecommunications Centrally controlled SOE 22 China Metallurgical Group Corporation Metallurgy, resource, real estate, engineering Centrally controlled SOE 23 Shum Yip Holdings Company Limited Real estate, infrastructure, transportation Locally controlled SOE 24 Legend Holdings Ltd.
In Phase 1 (1979–1990), the Chinese state played a key role in initiating the OFDI policies. In 1979, with the launch of the ‘open door’ policy by Deng Xiaoping, the State Council came up with the concept of ‘setting up enterprises overseas’ (Zhao, 2007, p. 56). The state issued concrete policies and principles to guide OFDI. In 1984, the Ministry of Foreign Trade and Economic Cooperation (MFTEC, today’s MOC) released the ﬁrst regulations on OFDI, called ‘Circular concerning approval authorities and administrative principles for opening up non-trade joint venture overseas’.
4. SDRC 1. Studying and putting forward strategies and plans for OFDI 2. Studying policies concerning aggregate balance and structural optimization DFCOI 1. Drafting the Catalogue for the Guidance of Foreign Investment Industries in cooperation with relevant agencies 2. Examining and approving key OFDI projects, major resources related and consuming substantial amount of foreign currency SAFE 1. Supervising and checking the authenticity and legality of receipts and payments 2. Regulating management of overseas foreign exchange accounts SASAC 1.
Chinese International Investments by Ilan Alon