A recent survey by US law firm White and Case throws light on the overseas ambitions of China's larger companies. According to 80 Chinese business leaders, Asia is the most popular destination for overseas expansion, with more than 75% of companies looking there. That compares with 50% of Chinese companies looking at the US and 44% in Europe. Other regions of interest include eastern Europe. Latin America and Africa
The survey also revealed that the Chinese foray overseas is in its early stages but is set to become much bigger. Just 5% of companies surveyed have overseas operations but 75% of Chinese companies are considering deals in the near future.
Put some dollars behind the statistics and it is enough to make any banker salivate. According to Dealogic, overseas M&A activity by Chinese companies in the year to date already totals $23 billion.