Davos leaders look to China's investments abroad
Tuesday, January 24, 2012
DAVOS, Switzerland (AP) -- The head of one of China's biggest private equity firms says Chinese investors are trying to follow the rules when investing abroad.
He spoke at the World Economic Forum, where business and political leaders are turning their attention Thursday to China, Africa and the Arab world.
John Zhao, CEO of Hony Capital, says foreign prejudice about Chinese investments is unfair, but acknowledged that some companies are still learning a game that much of the world has been involved in for decades.
Chinese companies and governments funds have been using vast reserves of cash to buy up foreign companies and invest in foreign government bonds in recent years.
Zhao told a panel that "the vast majority of Chinese companies are trying to follow the rules as they understand it."