Shanghai (CNS) -- China has become the favorite investment destination for Chinese multinational corporations (MNCs) - companies owned or primarily operated by domestic or overseas Chinese, thanks to the country's rocketing economy, said Kang Rongping, an expert on global Chinese ventures at the Chinese Academy of Social Sciences.
Kang spoke about progressive Chinese MNCs at a forum held by the Overseas Chinese Affairs Office of the State Council on Wednesday. Ninety-eight of the 103 newly-emerged Chinese MNCs have invested directly in the mainland, and among those, 40 chose China as their first investment destination, Kang added.
The figures have improved significantly since 1997, no doubt due to the vigor of the Chinese economy. Yet outside the Chinese market, Kang explained further, a continental imbalance in MNCs' branches remains: 73% are located in Asia and 19% in America, with the rest scattered throughout other continents, and their preference is for developed countries, with Singapore topping the country list.
His research also indicates that Chinese MNCs are presently less diversified, more trade-oriented (especially those based in European and American countries), and fewer of them tend to be family-dominated enterprises.
Venturing an opinion from the industry's perspective, Kang says Chinese MNCs are making a name for themselves in the technology and pharmacy sectors, and are showing leadership in the IT and food industries.
