Beijing ready to “push Chinese companies to acquire European enterprises”
With Europe facing a debt crisis, China plans to send an investment delegation to the Old Continent, backed by its US$ 400 billion sovereign fund. Loans are excluded. The goal is to buy bonds and shares. In exchange, the European Union and the United States must remove barriers and hurdles.
Beijing (AsiaNews) – The government in Beijing will lead an investment delegation to Europe next year as debt-laden euro zone countries open their doors to much-needed help. Beijing hopes to buy government bonds and shares in public companies.
China plans to encourage Chinese businesses to buy European companies, Commerce Minister Chen Deming told the Global Times, the international edition of the People’s Daily. The statement comes after the head of China's US$ 400 billion sovereign wealth fund said it was keen to invest in Europe.
“Some European countries are facing a debt crisis and hope to convert their assets to cash, so we will push forward more Chinese companies to acquire European enterprises,” Chen is quoted as saying.
However, Chen warned that mainland companies face challenges investing overseas and called on US and European authorities to further open up their markets and remove unnecessary hurdles and barriers.
“We are willing to further open up our market, such as the financial sector, but other economies must be more open to us in return,” he said.
The minister did not say when the delegation would go to Europe or which countries it would visit.
European leaders have been calling on China, the world's second largest economy, to help struggling euro zone countries by contributing to a bailout fund, but so far, Beijing has not made a firm commitment.
China plans to encourage Chinese businesses to buy European companies, Commerce Minister Chen Deming told the Global Times, the international edition of the People’s Daily. The statement comes after the head of China's US$ 400 billion sovereign wealth fund said it was keen to invest in Europe.
“Some European countries are facing a debt crisis and hope to convert their assets to cash, so we will push forward more Chinese companies to acquire European enterprises,” Chen is quoted as saying.
However, Chen warned that mainland companies face challenges investing overseas and called on US and European authorities to further open up their markets and remove unnecessary hurdles and barriers.
“We are willing to further open up our market, such as the financial sector, but other economies must be more open to us in return,” he said.
The minister did not say when the delegation would go to Europe or which countries it would visit.
European leaders have been calling on China, the world's second largest economy, to help struggling euro zone countries by contributing to a bailout fund, but so far, Beijing has not made a firm commitment.
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