Dong Songgen, vice chairman of the China Council for the Promotion of International Trade, said that Chinese enterprises' cumulative outbound direct investments stood at 260 billion U.S. dollars at the end of 2010. The pace of Chinese enterprises' "going abroad" will be further accelerated during the 12th Five-Year Plan period. According to a recent report released by the U.S.-based Asia Society, China's gross overseas investments are expected to reach 2 trillion U.S. dollars by 2020.

Data shows that Chinese enterprises have established 13,000 enterprises in 177 countries and regions.

In terms of countries and regions, the United States is still the largest investment destination for Chinese enterprises, with 28 percent of Chinese enterprises surveyed planning to invest in the United States

So much misinformation. FERC statement about not being an option is boiler plate language referring to there be no other applicant at time license filed. Alcoa gave up rights when they accepted monopoly use of public waters as free fuel and argued for 30 year license in vs. 50 license because they wanted extra years to recover building Tucker Town and new pot lines. They acknowledged they had no assurances of keeping the project property at end of license period. Water worth billions and tens of thousands of jobs should not be traded for pennies and a promise. The water is what will guaratee jobs and prosperity ...not Alcoa. Hydro is self financing...will not cost the tax payers a dime. Forward contracts on power sales or revenue bonds like financed Santee will get the job done. Comment by Waterperson - December 9, 2011 2:20 PM

But making those jobs contingent on the outcome of the legal dispute looks a lot like holding a gun to the head of the county.It’s more evidence of a company that can’t decide whether it wants to play bully or beneficiary.Alcoa has made clear that it wants to retain control of the dams, and shown no indication that it will give up the fight. Why would it? Electricity generation from the dams earned the company between $7.3 million and $8 million in each of the last three years, according to financial statements released in March

Beijing will use its foreign exchange reserves, the largest in the world, to support and accelerate overseas expansion and acquisitions by Chinese companies, Wen Jiabao, the country’s premier, said in comments published on Tuesday.

“Everyone is saying we should go to the western markets to scoop up [underpriced assets],” said Chen Yuan. “I think we should not go to America’s Wall Street, but should look more to places with natural and energy resources.”

As cheap as many American assets may look right now, it's difficult to argue with the Chinese strategy.

With China facing little of the credit squeeze problems afflicting much of the rest of the world, many Chinese companies plan to take advantage of the global downturn to make greater inroads into the West.

Companies plan to increase dramatically their adoption of M&A as a main growth strategy over the next five years, and cash rich companies will likely use the current decreased valuations abroad as a way to gain entry on favorable terms. In this way, the financial crisis can be an opportunity for cash rich, low debt or debt free Chinese companies.

The most popular strategy was the creation of partnerships, with partners ranging from distributors to academic institutions to PR and law firms, followed by organic and export-focused growth. While M&A is currently used much less frequently, respondents expect to use this strategy with increasing frequency going forward, as a way to tap into existing brand awareness overseas, as well as existing sales channels and distribution networks, talent pools, and to gain first hand insight into overseas markets.

Now is the opportune time for China to accelerate its "going abroad" strategy and expand foreign direct investment to take advantage of the opportunity to establish a new structure for its diversified assets portfolio. This would include the simultaneous development of domestic and foreign assets, physical and virtual assets, as well as upstream and downstream assets.

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