85% Chinese bosses want to enter overseas

KPMG says Chinese companies are flush with cash to buy overseas assets in the next 3 years, according to a recent survey by KPMG, an international investment consultancy (Morninghill Yin Xiaolin), that many Chinese companies are planning to aggressively acquire overseas assets over the next 3 years,　　This shows that well-funded Chinese companies are seeking new markets and technologies overseas.　　Ferly, head of mergers and acquisitions at KPMG, says Chinese companies are seeking overseas acquisitions, both state-owned and private. Geely, the Chinese carmaker, bought Volvo, the carmaker's Swedish carmaker, in August this year. ICBC, China's largest state-owned bank, recently announced the acquisition of a US securities dealer at a cost of $1. ICBC is also seeking to acquire assets in South-east Asia.　　Last year, Chinese companies invested about $43 billion trillion in mergers and acquisitions overseas. According to the KPMG survey, more than 150 Chinese executives plan to invest overseas in the next 3 years. "Among the people we visit, 85% intend to make acquisitions and acquisitions overseas," Ferly said. "Reading extends Chinese companies ' lack of experience in completing deals in 150 million of dollars in surveyed Chinese companies, most of which say they seek investment in Asia.　　Companies that earn more than this figure say they plan to invest in North America and Europe, in addition to Asia. "We see that companies that invest in the US and Europe do acquire information, branding and technology that can bring them further," Ferly said.　　In addition, foreign media reported this morning that Chinese companies are also investing extensively in Africa and Latin America, mainly in mining, oil and gas.　　The KPMG survey also found that Chinese companies still lacked experience in completing deals.　　The survey points out that because of cultural differences and differences in decision-making processes, Chinese companies are sometimes hindered in completing their transactions.　　Small links • Bima Wibimawei is a worldwide network of professional service providers that specialize in auditing, tax and consulting services. With 140,000 employees in 146 countries, KPMG has 13 institutions in Beijing, Shanghai, Shenzhen and Hong Kong, with more than 9,000 employees in China.