Edited by Huiyao Wang and Lu Miao
Chapter 2: China’s outward investment: Chinese enterprise globalization’s characteristics, trends and challenges
In 2016, the global economy continued to revive slowly. Global outbound direct investment (ODI) declined within a narrow range. In the investment areas, ODI mainly turned to the developed regions of Asia, Europe, and America, particularly in the service industry sector. Investment trends centered on cross-border mergers and acquisitions, and greenfield investment growth was underpowered. Although international investment policies tended to be free and convenient, several developed countries intensified the supervision and restriction measures on outbound investment. However, Chinese companies were upstream in outbound investment, and created new historical records in 2016. Chinese companies preferred developed countries when choosing investment areas. Investors showed diversification development trends of “state-owned and privately owned enterprises advancing together.” Investment methods focused on mergers and acquisitions. Investment in the manufacturing industry grew strongly. The overall industrial chain layout, strategies based on local conditions, and the start of brand strategy were new features of the outward expanding companies. This chapter discusses eight significant challenges that Chinese companies faces in overseas development and proposes countermeasures and suggestions. It provides readers with a general view of global outbound investment and the development status and features of Chinese companies “going-out.”
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