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Chinese Firms Are Investing Abroad at Fastest Pace in Eight Years [Financial Post (Toronto, Ontario, Canada)]

BYD CO LTD UNSP/ADR (BYDDY)

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Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — China's overseas investment is heading for an eight-year high as its dominant firms build more factories abroad, a shift that could soften criticism of Beijing's export drive. Chinese companies made 243 billion yuan ($33.5 billion) in foreign direct investments from January to March, data released last week showed. That was the highest first-quarter figure since 2016 — before a crackdown on capital outflows -– and up almost 13% from a year earlier. Article content Article content Leading the push are firms in industries where China is racing ahead of rivals, like electric vehicles and solar energy. These investments may help tamp down trade tensions — by creating jobs and economic growth in overseas markets, instead of flooding them with exports that threaten to put local producers out of business. “China wants to produce overseas so the trade Show less Read more

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Chinese Firms Are Investing Abroad at Fastest Pace in Eight Years [Financial Post (Toronto, Ontario, Canada)]

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