Since its WTO accession in 2001, China’s foreign investments have increased, and with this its integration into the global economy, this trend is also called the ‘Going Global’ Strategy.1 Chinas total non-current assets is estimated at about $4.6 trillion. This makes China a powerful player in the financial world, ahead of the USA and Japan.2
The chinese central bank, with a sum of $3.9 trillion is the worlds largest public investor. In the wake of the financial crisis both Greece and Spain developed bilateral agreements with China that would make their products in the market of each counterparty competitive. In 2006 the China Development Bank invested around 600 million euros in companies such as Anglo American Plc which has often been criticised for human rights violations and environmental pollution. Two years later the State administration of Foreign Exchange acquired a 1,400 million stake in the energy company BP plc, despite the controversy surrounding the oil spill in the Gulf of Mexico and high co2 emissions. Although China is dedicated to the domestic and North American markets with greater attention, it has long since become a global player with large western investments.
Click here to read more about Anglo American PLC and BP PLC
- EU China Civil Society Forum: „Kauft China Europa?“ Available at: http://www.asienhaus.de/fileadmin/uploads/china/publikationen/eu-china_2010_kauft_china_europa.pdf Last accessed 10.07.2014 [↩]
- Welt: Heimliche Strippenzieher der Finanzwelt Available at: http://www.welt.de/finanzen/article129519307/Heimliche-Strippenzieher-der-Finanzwelt.html Last accessed 10.07.2014 [↩]