SINCE THE START of the year, the message has been filtering down to the heads of China’s leading state-owned enterprises from their political masters inside the State Council. Quietly at first, then with greater urgency, Beijing has been cajoling its leading corporate representatives to venture abroad in search of foreign markets, resources, brands and distribution channels.
If those often powerful but nonetheless timid SOE heads were at all unsure about their top priority, China’s central bank chief rammed home the point on September 9. Talking at a trade forum in the coastal city of Xiamen, Zhou Xiaochuan told the country’s leading commercial banks to get busy buying. "Financial institutions are playing an important role in supporting overseas investments but it is still not enough," he said, adding that the balance between inbound and outbound capital was "uneven" – to China’s disadvantage.
Clear...
You must be a subscriber to access this archived content.
If your subscription includes access to the archive, please log in now to view.
To gain access to this content visit the subscription page or call our hotline on +44 (0)207 779 8999.
Subscribe online now and save up to 30% on your subscription.
If you are a trialist or subscriber, please enter your username and password at the top right-hand side of euromoney.com
Subscribers to Euromoney benefit from:
- 12 months access in print and online - on euromoney.com, read the latest issue early online, search for specific developments by region or sector, interrogate the results of Euromoney's benchmark polls, and view the archive dating back to 1996
- More than 30 specialist research guides free
- The results of Euromoney’s polls and surveys
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Click here to subscribe