Chinese companies see steady overseas growth

Beijing, Dec 23 (IANS) Chinese companies have seen steady growth in cross-border mergers and acquisitions while expanding overseas, the commerce ministry has said.

Chinese companies' outward foreign direct investment (OFDI) from 2008 to 2011 in the form of mergers and acquisitions totalled over $106 billion, the China Daily reported.

The figure represented an annualized growth of 44 percent.

In 2011 alone, OFDI in the form of mergers and acquisitions amounted to $27.2 billion, said Chen Runyun, an official of the ministry.

Mining, manufacturing and power generation are among the most favoured sectors for Chinese investors, the daily quoted Chen as saying.

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