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Chinanews, Beijing, Mar1. 1 – The State Development and Reform Commission on Tuesday published the third version of the Industrial Directory for Chinese Enterprises to Invest in Foreign Countries . Of all the 32 countries and regions that are listed, the oil and natural gas resources in nine countries are included. Experts say this shows Chinese government’s intention to explore oil resources in the African continent, the China Business News reported.
The directory aims to provide useful information about countries and their industrial sectors2 in order to help Chinese enterprises to make investment abroad. The ranges of investment included in the directory are chosen by considering Chinese industrial structure and industrial advantage, industrial sectors that are encouraged by a foreign country in attracting foreign investment and the country’s market situation, as well as the range of investment in which the Chinese government encourages domestic enterprises to make investment abroad. It is expected that Chinese enterprises can have a clear picture and make the right decision before they make up their minds about investment abroad. In the directory, the oil and natural gas resources of Kuwait, Qatar, Oman, Morocco, Libya, Norway, Ecuador, and Bolivia are mentioned specifically. The new directory shows that apart from the Middle East region and Europe, China is going to expand its investing scope in the African region, said Han Xuegong, an expert on petroleum3. Related information shows that at present, 28% of China’s oil imports come from Africa. An official from the State Development and Reform Commission said that in 2005, China imported more than 30 million tons of petroleum from Africa, accounting4 for 30% of the country’s total oil imports.
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