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Trends in Overseas Direct Investment by Chinese Companies in 2013

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Trends in Overseas Direct Investment by Chinese Companies in 2013 Trends in Overseas Direct Investment by Chinese Companies in 2013 January 2015 China and North Asia Division Overseas Research Department Japan External Trade Organization (JETRO) Exclusion of liability clause Responsibility for decisions made based on the information provided in this report shall rest solely on readers. Though JETRO strives to provide accurate information, JETRO will not be responsible for any loss or damage incurred by readers through the use of the information. Unauthorized reproduction prohibited Introduction There is a trend among Chinese companies toward direct foreign investment (FDI) that is becoming more active each year. China’s 2013 FDI (net, flow) announced in September 2014 set a new record, at USD107, 843.71 million, a 22.8% increase year-on-year. By region, Chinese FDI in Asia and Central and South America drove the increase, while FDI in Europe declined. By industry, mining and finance stood out as contributing to the increase, while manufacturing made a negative contribution. In light of these circumstances, this report presents multifaceted verification of the situation in regions of China with regard to Chinese FDI and the situation in the countries and regions that receive FDI, and it describes the current state of overseas development by Chinese companies, which are expanding around the world. This report appeared in JETRO Daily in November and December 2014, and it is based on the data available at the time of writing (September-October 2014).It is hoped that this report will serve as a reference in various quarters, including at Japanese companies. January 2015 Overseas Research Department, Japan External Trade Organization (JETRO) . < Contents > 1. CHINA ........................................................................................................................................ 4 1-(1) CHINA: SETS NEW RECORD FOR FDI BY MAINTAINING DOUBLE-DIGIT GROWTH FOR TWO CONSECUTIVE YEARS .................................................................................................................... 4 2. ASIA AND OCEANIA (EXCLUDING JAPAN AND CHINA) ........................................................ 9 2-(1) HONG KONG: CLEARLY TOP AMONG COUNTRIES AND REGIONS; HAS SHARE OF TOTAL INVESTMENT JUST UNDER 60% ...................................................................................................... 9 2-(2) TAIWAN: RECORD-SETTING INVESTMENT AMOUNT, MAINLY IN LARGE TRANSACTIONS .............. 11 2-(3) SOUTH KOREA: CONTINUED FOCUS ON LEISURE AND TOURISM SECTOR ................................... 15 2-(4) SINGAPORE: THE OBJECT IS DIVERSIFICATION THROUGH HI-TECH, ENERGY, AND REAL ESTATE .. 18 2-(5) THAILAND: CHINESE INVESTMENT CONTINUES TO STAGNATE, BUT SIGNIFICANT INCREASE MAINLY IN AUTOS IS CERTAIN ...................................................................................................... 21 2-(6) MALAYSIA: DIVERSIFIED INVESTMENT IN HI-TECH AND SERVICE INDUSTRIES ........................... 24 2- (7) INDONESIA: MINING SECTOR RECEDES, EXPANDED NUMBER OF INDUSTRIES TARGETED FOR INVESTMENT .............................................................................................................................. 28 2-(8) THE PHILIPPINES: POTENTIAL FOR EXPANSION OF AGRICULTURAL SECTOR HENCEFORTH ........... 32 2-(9) VIETNAM: LARGEST NEW INVESTMENT WAS CHINESE COMPANIES’ CONSTRUCTION OF A COAL-FIRED POWER PLANT ......................................................................................................... 34 2-(10) MYANMAR: CHANGE TO LABOR-INTENSIVE INDUSTRIES SUCH AS APPAREL AFTER TRANSITION TO CIVILIAN RULE ...................................................................................................................... 37 2-(11) CAMBODIA: BRISK FORAY INTO GARMENT INDUSTRY; INVESTMENT EXPANDS SUDDENLY ........ 40 2-(12) INDIA: NO LARGE-SCALE PROJECTS; DECLINE OVER 40% YOY ............................................ 42 2-(13) SRI LANKA: CHINA IS TOP INVESTOR; FLOW OF FUNDS ENCOURAGES COMPANIES TO SET UP OPERATIONS ............................................................................................................................... 44 2-(14) PAKISTAN: RAPID EXPANSION OF COMMUNICATION SECTOR; CHINA’S FIRST TIME IN TOP POSITION AS A COUNTRY ............................................................................................................. 47 2-(15) BANGLADESH: CHINA BECOMES LARGEST INVESTOR IN EPZS ............................................... 49 2-(16) AUSTRALIA: CONSPICUOUS INCREASE IN AGRIBUSINESS AND FARMLAND SECTOR ................... 52 3. NORTH AMERICA ................................................................................................................... 56 3-(1) UNITED STATES: LARGEST M&A EVER IN THE FOOD SECTOR .................................................. 56 3-(2) CANADA: REVISION OF INVESTMENT LAW PUTS BRAKES ON INVESTMENT; CASES SUDDEN DROP60 4. CENTRAL AND SOUTH AMERICA .......................................................................................... 62 4-(1) BRAZIL: INVESTMENT IN AUTO INDUSTRY AND INFRASTRUCTURE SECTOR IS PROMINENT .......... 62 5. EUROPE AND RUSSIA ............................................................................................................. 64 5-(1) GREAT BRITAIN: ACTIVE LARGE-SCALE INVESTMENT; ADVANCES IN CLOSER ECONOMIC . COOPERATION ............................................................................................................................ 64 5-(2) GERMANY: INVESTMENT AMOUNT REMAINS LOW; UPTREND IN NUMBER OF CASES .................. 66 5-(3) FRANCE: MOVEMENT TOWARD EXPANDING OPERATIONS IN AFRICA BY ACQUIRING FRENCH COMPANIES ................................................................................................................................ 69 5-(4) RUSSIA: FINANCE AND REAL ESTATE EXPAND WITH GROWTH JUST UNDER 20% ....................... 72 6. MIDDLE EAST AND AFRICA................................................................................................... 75 6-(1) IRAN: EXPANSION CENTERED AROUND INFRASTRUCTURE AND ENERGY .................................... 75 6-(2) UNITED ARAB EMIRATES (UAE): ACTIVE MOVEMENT IN THE FINANCIAL AND REAL ESTATE SECTORS .................................................................................................................................... 77 6-(3) ISRAEL: LARGE INVESTMENTS IN INFRASTRUCTURE PROJECTS AND FOOD CONTINUE ................ 80 6-(4) EGYPT: PROGRESS IN DIVERSIFICATION OF INVESTMENT SECTORS TO MANUFACTURING AND COMMUNICATIONS, ETC. ............................................................................................................. 82 6-(5) ALGERIA: ALGERIA IS THE SECOND-LARGEST PRESENCE IN CHINA’S INVESTMENT IN AFRICA ..... 86 6-(6) MOROCCO, TUNISIA, AND MAURITANIA: INVESTMENT AMOUNT IS SMALL, BUT INTEREST IS STRONG ..................................................................................................................................... 89 6-(7) REPUBLIC OF SOUTH AFRICA: INVESTMENT EXPANDS IN DIVERSE SECTORS SUCH AS CONSUMER APPLIANCES AND AUTOS ............................................................................................................. 93 7. JAPAN ...................................................................................................................................... 95 7-(1) JAPAN: LARGE RECOVERY IN DIRECT INVESTMENT TO JAPAN; BALANCE ALSO IN AN UPTREND ... 95 Copyright(C)2015 JETRO. All rights reserved. 3 1. China 1-(1) China: Sets New Record for FDI by Maintaining Double-Digit Growth for Two Consecutive Years In 2013, China set a new record with USD107,843.71 million in FDI (non-financial sector, net, flow), a 22.8% increase. The figure has continued to increase ever since 2002 when collection of statistics began. By region, Asia and Central and South America drove the increase, while the share of FDI sent to Europe declined. By industry, mining and finance stood out as contributing to the increase, while manufacturing made a negative contribution. This paper reports on this trend at Chinese companies from China and from the countries and regions that receive the FDI. -Among Top Three in the World for Two Consecutive Years- China’s Ministry of Commerce, the National Bureau of Statistics, and the State Administration of Foreign Exchange jointly released the 2013 Statistical Bulletin of China's Outward Foreign Direct Investment on September 9, 2014. China’s FDI (net, flow) in 2013 was USD107,843.71 million, representing a 22.8% increase YOY. It has continually increased ever since statistical collection began in 2002, and the figure for 2013 set another new record. The official statistics report mentioned the following eight characteristics of the FDI in 2013. (1) While global FDI in 2013 increased 1.4% YOY, Chinese FDI increased by 22.8% YOY, setting a new record at USD107.8 billion and putting it among the top three countries in the world for two consecutive years. (2) At the end of 2013, 15,300 investors in China had established 25,400 companies in foreign countries, with an increase of five locations compared to the previous year, to 184 countries and regions. At the end of 2013, China’s FDI (stock) was USD660.5 billion, and its global rank rose from 13th to 11th. (3) While investment in Europe in 2013 declined 15.4% to USD6.0 billion, there was steady expansion in Central and South America (increase of 2.3 times), Oceania (up 51.6%), Africa (up 33.9%), and Asia (up 16.7%). FDI in North America rose slightly, by
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