Western Countries Shift Their Attitude Towards Chinese Investmen.docx

Western Countries Shift Their Attitude Towards Chinese Investmen.docx

《Western Countries Shift Their Attitude Towards Chinese Investmen.docx》由会员分享，可在线阅读，更多相关《Western Countries Shift Their Attitude Towards Chinese Investmen.docx（3页珍藏版）》请在冰豆网上搜索。

WesternCountriesShiftTheirAttitudeTowardsChineseInvestmen

WesternCountriesShiftTheirAttitudeTowardsChineseInvestmen

　　THEfirstChinaOverseasInvestmentFairopenedinBeijingonNovember3,2009,aimingtopromoteChineseinvestmentinoverseasmarkets.Surprisinglyforthehost,representativesfromdevelopedcountriesthathadpreviouslybeencautioustowardChineseinvestmentwereamongthosefromthe100plusparticipatingcountries.TheyweresincereandanxioustomarkettheirprojectstoChineseinvestors.DoesthissignalachangeintheWesternattitudetowardChineseinvestment?

　　FearsUnfounded

　　Overthepast16years,Chinahasbeenthelargestforeigndirectinvestmentrecipientamongthedevelopingcountries.Bytheendof2008,atotalofUS$900billionhadflowedintoChina.Instarkcontrasttothiswave,bytheendof2008China’sinvestmentinoverseasmarketshadtotaledonlyUS$184billion,representingatinyproportionoftheglobalForeignDirectInvestment（FDI）andranking22ndworldwide.

　　Duetodifferentcorporatebackgroundsandculturaldisparities,Chineseoverseasinvestmentswerethecauseofworryandfearinsomecountries,andconsequentlyChinesecompanieswithacquisitionofferswereshunnedonthebasisofdifferentexcuses.Forexample,theChinaNationalOffshoreOilCorporation’sattempttopurchaseAmericanUnocalwasrejected,likewisetheAluminumCorporationofChina（Chinalco）’smergerandacquisitionbidforAustralianRioTintowasrepelled.Australia’snationaldailynewspaperTheAustralianpublishedaneditorialtitled“SayNotoChinalco,”sayingthatChineseenterprise’sentryintotheAustralianmarketwouldthreatenitsnationalinterests.However,accordingtostatisticspublishedonthewebsiteoftheAustralianBureauofStatistics,foreigninvestmentinAustraliareachedA$1,724.4billiononDecember31,2008;thefirstthreeleadinginvestornationswereBritain（25percent）,theUnitedStates（24percent）andJapan（5percent）.Incontrast,theinvestmentfromtheChinesemainlandwasonlyA$4.615billion,makinguponly0.27percent.

　　“We’veheardaboutthefearsthattheworldmayconverttoan‘Asia-Pacificera’,”commentedHon.AnuraPriyadharshanaYapa,MinisterofBusinessDevelopmentandInvestmentPromotionofSriLanka,“butforacountryinsidetheAsia-PacificeconomicspherelikeSriLanka,webelievetheprogressoftheAsia-Pacificregionwillbeviewedasapositivestimulustotheglobaleconomy.Chinahasincreasinglyplayedaleadingroleinthisregard.Weassumethatsuchfearsaregroundless,becausewebelieveChinawillalwaysopttocreateawin-winsituation.”

　　SomerepresentativesofWesterncountriesclarifiedthatindividualcasescouldnotrepresentthetrueattitudeofWesterncountriestowardChinesecapital.JonHuntsmanJr.,currentU.S.ambassadortoChina,saidatthefairthatChinaistheU.S.’sfastestgrowinginvestor.Chinesedirectinvestmentinhiscountryhasreachedbillionsofdollars,andChineseenterprisesareplayingaveryactiveroleinmanyAmericanindustries,fromtelecommunicationstoconsumergoods.

　　JimMurphy,executivedirectoroftheMarketsGroupoftheAustralianTreasury,statedatthefair:

“In2008ourForeignInvestmentReviewBoard（FIRB）releasedasetofguidelinesrelatedtothescreeningofforeigninvestmentproposals.Thoseguidelinesarenon-discriminatory,intendedtopromotetransparency,andarenottobeconsiderednewpolicy.TheFIRBwillrevieweachproposalonacase-by-casebasis,includinganyfromChina.Theguidelinesapplyequallytoallforeigninvestments.ChinaisshowingagreatinterestininvestingintheAustralianresourcessector,whichisconducivetothefurtherdevelopmentoftheChineseeconomy.Meanwhile,AustraliaiswillingtosupplytheirresourcesforbenefitstheydelivertotheAustralianeconomy.Therefore,theAustraliangovernmentalwayswelcomesChineseandotherforeigninvestmentinourresourcessector.”

　　HiroshiMitanioftheJapanExternalTradeOrganization（JETO）explainedcandidlythefearsoftheJapaneseentrepreneurs:

“Fromtheverybeginning,severalJapaneseenterpriseswereconcernedaboutChina’sindustrialpurchasingmovesbecausetheyfearedtheoccurrenceofa‘Wimbledonphenomenon’inwhichtheJapanesemarketwouldbedominatedbyforeignplayers.ButnowwerealizethatthosefearsareunfoundedbecausetheWimbledonChampionshipsintheendinjectedvigorintosportsintheUnitedKingdom.”Hefurtherelaboratedontheidea,“Thecollisionofdifferentculturesandtechnologieswillgeneratenewsparks.Therefore,anyforeignenterprise’sentryintotheJapanesemarketwillbringabouteconomicvigorratherthandanger.Japanshouldbemoreopenandwelcomeinvestmentsfromvariouscountries,includingChinaofcourse.”

　　ANewSourceofCapital

　　Inthewakeofthe2008globalfinancialcrisis,countriesaroundtheworldwerehungryfornewsourcesofinvestmentcapital.ManyofthemturnedtheirattentiontoChina,hopingthatChina’sinvestmentwouldhelpstimulatetherecoveryoftheireconomies.

　　“Theworld’seyesaregluedonChina,”saidMr.RudolfBekink,theDutchambassadortoChina,atthefair.Accordingtohim,foreigncapitalhashadavitalimpactontheDutcheconomy,helpingcreatejobopportunitiesanddevelopnewtechnologies.TheDutchgovernmentcountsonChina’sinvestmentasapartofitsnationaleconomy.

　　GiuseppeArcucci,foreigninvestmentdirectorofInvitalia?

CanItaliangovernmentagencyforpromotinginwardinvestmentandindustrialdevelopment,saidthatInvitaliahasofferedconcreteinvestmentprojectsforChineseinvestorsandthattheItaliangovernmenthasrecentlyimplementedaseriesofpreferentialpolicies,includingloweringcorporatetaxes,simplifyingadministrativeproceduresandprovidingsupporttoresearchanddevelopmentprograms.

　　CraigBond,chiefexecutiveoftheChinadivisionoftheStandardBankofSouthAfrica,saidatthefairthatitisveryobviousthatemergingeconomiesneedChina,becauseChinahasbothcapitalandforeignexchangetosupportthem,andparticularlyChinapossessestop-levelmanagementskillsandengineeringtechnologiesthatareindispensableforenteringthemarketsofemergingeconomies.

　　StatisticsshowthatChina’stotaloutwardinvestmentssoaredfromUS$2.7billionin2002toUS$56billionin2008.Bytheendof2008,thenumberofforeignersemployedbyoverseasChineseenterpriseshadreached455,000.In2009,undertheimpactoftheglobalfinancialcrisis,theworld’stransnationalinvestmentsufferedayear-on-yearsharpdecline,whiletheoutboundinvestmentofChinesebusinesseswentup1percenttoUS$33billionbetweenJanuaryandSeptember.ThiscontrastindicatestheriseofChinaasacapitalsourceintheglobalmarket.

　　OptionsforNew-techIndustries

　　Chinahasbothampleforeignexchangereservesandadvancedtechnologies,sosomeWesternnationsalsoseekChina’scapitaltoinvestintheirnew-technologysectors.

　　Japan,whichhasexcelledatabsorbingnewtechnologiesfromothercountries,islookingforwardtogreaterinvestmentfromChinaintoitsmostadvancedtechnologysectors.HiroshiMitaniexplainedatthefairthatinthepastJapan’stechnologywassuperiortothatofChina,butnowsomeofChina’stechnologieshavesurpassedtheJapanese,especiallyinthefieldsofbiopharmaceutics,herbalmedicinepatentsandrobotmanufacture.HeadmittedthatJapanhopestobringinChineseinvestment,togetherwithtechnology,fromthesefields.

　　Manydevelopedcountriesarealsoattemptingtoattractforeigninvestmentintotheirgreenenergysectors.ChristopherChung,CEOoftheMissouriPartnership,saidatthefairthattheMissouriStateGovernmentiscourtinginvestmentsfromChineseenterprises,especiallythoseinnewenergysectors,suchaswindandsolarenergy.HeaddedthatcompaniesinMissouriwouldliketoformcooperativepartnershipswithChineseenterprises,eitherthroughoutrightpurchasingorbymerger.TheyhopethatChinesecapitalwillleadtotheestablishmentoffactoriesinMissouriandcreatemorejobopportunities,especiallyinthecontextofeconomicrecession.

　　KevinTsui,managingdirectorofNorthChinaRepresentativeOfficeofCanada’sPacificGatewayInternationalTradeandInvestment,toldChinaTodaythatBritishColumbiainCanadaboastsabundantmineralandmarineresources,andcoalminingremainsamongitstraditionalindustries.TheregionisnowencouraginginvestmentfromChineseclean-energyenterprises.Inaddition,Chineseinvestmentininformationandcommunicationstechnologyareexpectedtoo.

　　GiuseppeArcuccitoldChinaToday:

“WeareparticularlyinterestedinChineseinvestorsthathavetheireyesonItaly’stechnologicalinnovationanddevelopmentsectors,andIcansayforsurethatbyworkingtogetherwithItaliancompaniesthesenewtechnologiesandproductsstandthegreatestchanceofbeingbroughttomarket.”