China is looking at ways to encourage domestic manufacturers to expand overseas networks to boost shipments and promote branding amid a gloomy outlook for exports amid falling global demand, a senior commerce official said on Thursday.
Zhong Shan, vice-minister of commerce, said: "The ministry will draft a mid- and long-term plan on building up the international sales and marketing network especially in emerging markets" for Chinese exporters.
Brazilian officials are visiting China to expand business between the two countries, especially in the food and drink sector.
Alessandro Golombiewski Teixeira, Brazilian deputy minister of Development, Industry, and Trade, said the two countries have common interests in improving agricultural trade, which will help satisfy China's growing demand for agricultural products and create more jobs in Brazil.
Brazil is the world's third-largest food exporter and China is the world's largest food consumer.
Shortly after Fu Chengyu became chairman of China Petroleum and Chemical Corp, or Sinopec, the company arranged to have an interpreter accompany him to an event where he was to speak to foreign guests.
There, the 61-year-old gave practically everyone a surprise by speaking fluent English.
Chinese energy companies are becoming more and more of a driving force in the global energy industry. And few people are more emblematic of Chinese companies' increasing prominence than Fu, who has overseen many of the largest mergers and acquisitions in the industry.
China National Cereals, Oils and Foodstuffs Corp, or COFCO, plans to accelerate its expansion program abroad to meet growing demand at home.
Ning Gaoning, chairman of the State-owned food processing giant, said the company is looking to expand its network of investments in the "world's major production areas" for agricultural goods, namely South and North America, Australia and Russia.
"We plan to net the best agricultural goods worldwide to guarantee domestic market supply," said Ning.
China's ultra-high voltage transmission and new-energy industries will expand rapidly in the next three years, with a steady move into the overseas market, said the chairman of a leading power transmission company.
"The government is going to approve many UHV transmission projects in the coming years, to satisfy the energy demand during the economic expansion," said Zhang Xin, chairman of the Tebian Electric Apparatus Stock Co Ltd in the Xinjiang Uygur autonomous region, at a news conference of the 18th National Congress of the Communist Party of China.
The Industrial and Commercial Bank of China Ltd, the world's biggest lender by market value, was given the go-ahead by Argentina's central bank to conduct its biggest takeover in nearly four years in the South American country.
It got the formal approval on Nov 8 to buy an 80 percent stake in Standard Bank Argentina and its two affiliates for $650 million, asset manager Standard Investments and Inversora Diagnol, a commercial service provider, ICBC said in a statement released on Saturday.
Top Chinese contractors are looking to take part in railway projects in the United Kingdom, seeing that as a way to promote their brands in developed economies.
As private Chinese companies invest more in overseas resources projects, they are seeing advantages from a new source: the acceleration in the global use of the renminbi.
Private mining companies, with the support of domestic banks, should seize opportunities they now have in the overseas resources industry, said Guo Jianwei, deputy director-general at the monetary policy department of the People's Bank of China, at the 2012 China Mining Expo in Tianjin over the weekend.
Unsatisfied with being just a market and testing ground of new reactor technologies for developed countries, China is now looking to be an energetic developer of nuclear power plants around the world with ambitions that are poised to reshape the global nuclear industry.
The latest example of China's growing interest in foreign nuclear projects was seen in the bid made by China Guangdong Nuclear Power Holding Co Ltd and State Nuclear Power Technology Corporation, a subsidiary of China National Nuclear Corporation for the Horizon nuclear reactor-building program in the United Kingdom.
Video: Chinese Firms in US
China has become Malaysia's third-largest source of tourists, following Indonesia and Singapore. In the first half of the year, 758,300 Chinese tourists visited Malaysia, up 34 percent year-on-year, according to the Malaysia Tourism Bureau. While private companies are trying to grasp investment opportunities in Malaysia, China's State-owned enterprises have tapped into the market, which is China's largest trading partner among members of the ASEAN.
Private entrepreneurs are a relatively new breed in China and perhaps the ones who are most symbolic of the nation's current economic resurgence.
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