A few days ago, the famous accounting firm PricewaterhouseCoopers reported on "Chinese companies' overseas investment" that manufacturing enterprises have become the main force for Chinese companies to invest overseas. According to PricewaterhouseCoopers, as of December 2007, the manufacturing industry accounted for 53.4% ​​of China's overseas investment entities, while mining companies, which once had huge acquisition funds and affected a wide range of concerns, accounted for only 4.6% of overseas investment entities.

Deutsche Bank predicts that the annual growth rate of China's overseas investment in the next 10 years may be as high as 50%. However, due to factors such as national financial policies and the size of enterprises, the current state-owned enterprises are still the main force of overseas investment, and their share far exceeds other forms of economy.

Overseas investment enters an accelerated development stage

Huang Jia, a partner of PricewaterhouseCoopers, who is responsible for overseas investment projects of Chinese companies, said that in 2007, China's large-scale overseas acquisitions and mergers and acquisitions emerged in an endless stream, and financial, steel, energy, and resource companies became the pioneers.

According to the report of PricewaterhouseCoopers, China's overseas investment has now surpassed the stage of “frame formation and all-round development” and entered an accelerated development stage. It is characterized by the establishment of sovereign funds and the rise of financial participation. In the industry, in addition to the manufacturing industry, the mergers and acquisitions of financial enterprises and resources have begun to accelerate. Representative enterprises such as CNOOC, Minmetals, and ICBC.

For example, Ping An Insurance, China's second-largest life insurance company, spent US$2.7 billion to acquire its 4.2% stake in Fortis Bank of Belgium-Netherlands Banking Insurance Group as its major shareholder. This is the latest trend in a series of overseas investments by China Financial Group.

Huang Jia believes that the overseas investment of China's mining and energy companies has achieved certain results. For example, in 2005, China's imports of 127 million tons of crude oil and 280 million tons of iron ore, the direct share of direct mining by Chinese enterprises reached 20%; At present, through foreign investment cooperation, China has accumulated more than 100 million tons of equity oil.

Jin Hao, deputy director of the Institute of Industrial Economics of the Chinese Academy of Social Sciences, said that in order to alleviate China's resource pressure, one of the strategic ways for China's future development should be to realize the internationalization of heavy chemical industry, that is, to make overseas investment to make better use of international resources.

Private enterprises overseas acquisitions hit the wall

According to industry insiders, in addition to the official statistics of China's overseas investment in 2007, the amount of overseas investment is more than 20 billion US dollars. Actually, there are still a large number of overseas investment by private enterprises and the reinvestment of enterprises after overseas financing are not counted.

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