International Business and the Entry of China into the Global Economy
- New Horizons in International Business series
Edited by Robert Pearce
Chapter 9: The Overseas Expansion of Chinese Multinational Corporations
Bersant Hobdari, Evis Sinani, Marina Papanastassiou and Robert Pearce INTRODUCTION As it is clearly stated in one of latest World Investment Reports (WIR) published by the United Nations Conference on Trade and Development (UNCTAD), large multinational corporations (MNCs) from emerging economies are appearing as global investment leaders. While only 19 featured among the Fortune 500 in 1990, 47 such companies did in 2005. The top five MNCs from emerging economies are also among the top 100 global MNCs, that is Hutchison Whampoa (Hong Kong, China), Petronas (Malaysia), Singtel (Singapore), Samsung Electronics (Republic of Korea) and CITIC Group (China) (UNCTAD, 2006, p. 24, pp. 31–2). Over the last two decades China is one of the economies that is leading the emerging countries in generating foreign direct investment (FDI) abroad. Based on recently published information in the UNCTAD (2010) China is ranked among the top ten host and home countries for FDI. In particular, mainland China is ranked second (after the USA) with $95 billion as final destination for FDI in 2009 and sixth (following the USA, France, Japan, Germany and Hong Kong, China) with $48 billion as investor country. Looking also at the top 100 non-financial MNCs from developing economies as published by UNCTAD in 2008, we observe that Hutchison Whampoa Limited (from Hong Kong, China) is ranked in the first place whilst in the list we find 13 more companies such as the CITIC group, the China Ocean Shipping Group Company, the China National Petroleum Corporation, SinoChem Cor., Star...
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