Last year, new overseas investment by the National Development and Reform Commission (NDRC) of China unleashed a wave of outbound investments by major Chinese real estate companies.
Now, the latest policy update by China’s Ministry of Commerce (MOFCOM) knocks down yet another hurdle for Chinese companies investing abroad.1
Under this new policy, going into effect October 6, investment projects abroad no longer require approval from the ministry – save for those in industries and countries deemed sensitive by the Chinese government.1
Not surprisingly, astute developers have been watching policy changes closely to capitalise on such new guidelines.Investments by Chinese developers have charted a 17% increase since the NDRC increased the threshold last December from $100 million to $1 billion for overseas investments required to obtain approval.2
One such developer is Shanghai-based Fosun Group, which has taken bold steps in recent years to steadily expand overseas – spending over $3.7 billion on foreign acquisitions since 2010.9
Fosun has undergone its fair share of successes, challenges and fierce competition, but they’ve only grown from strength to strength. With the new policy going into effect today, the world is its oyster.
|
