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China: Chinese Companies Continue Global Expansion in Resources Sector.
Section: General News - Despite the global financial crisis, Chinese state-owned companies continue buying assets overseas, especially in the energy and resource industries. The trend is expected to continue into the next decade.
From Australia to Iraq, Chinese state companies are gobbling up fuel and commodities around the world. About 90 percent of Chinese overseas investments in the first half of the year went to the energy and basic materials sector. Last year, China mergers and acquisitions deals totaled nearly $24 billion.
Jing Ulrich is chairwoman of China equities and commodities at the investment bank JP Morgan.
"I think the Chinese government …
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