Chinese Companies Urged to Expand Overseas Investment

China is stepping up efforts to boost various forms of overseas investment cooperation and develop its own multinational companies, reports the China Daily.


According to a report on the Daily, China companies invested a total of US$245.7 billion in 177 countries and regions by the end of last year, making China the fifth largest global investor.


"In future, we will encourage more Chinese enterprises to go aboard, deepen South-South Cooperation and truly help developing countries raise economic development capacity," Vice President Xi Jinping said at the opening of the Second World Investment Forum, sponsored by the United Nations Conference on Trade and Development (UNCTAD).




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