SHANGHAI Kam Chancellor Jersey , Sept. 24 (Xinhua) -- Chinese enterprises have positive expectations on investment in BRICS countries.
"The investment in Brazil will reach 70 percent of our company's overall overseas investment, after the completion of the acquisition," Ge Junjie, chairman of Hunan Dakang Pasture Farming, said in Shanghai Saturday at a seminar on overseas investment.
Ge, whose company is based in central China's Hunan Province, said that this June the company's strategic investor Doug Baldwin Jersey , Shanghai Pengxin Group, and its wholly owned subsidiary abroad DKBA, had acquired a 53.99 percent stake in Belagricola, a company specializing in agricultural equipment sales in Brazil.
In 2016, the group bought a 57 percent stake in Fiagril, a Brazilian trading company.
More Chinese companies are seeking investment opportunities in BRICS countries.
Huang Qingfeng, president of Shanghai Zhenhua Heavy Industries Earl Thomas III Jersey , said that the company started investment in Brazil, India, Russia, South Africa in 1996, 2005, 2006 and 2008 respectively, seeking cooperation partners. The company is now negotiating a fully automated wharf project with Indian customers.
Earlier this year 12th Fan Jersey , Beijing Gas Group bought a 20 percent stake in a Rosneft subsidiary.
Chinese companies are now investing in more countries and diversified industries, according to Cline Zhang, branch manager of Citibank (China) Shanghai Branch.
Zhang said that Chinese companies are behaving in more robust fashion, focusing on sustainable development and risk aversion.
The potential that BRICS members will expand investment to each other is large. Overall foreign investment by BRICS has reached 200 billion U.S. dollars, accounting for 12 percent of total global investment, yet bilateral and mutual investment among BRICS accounted for only 6 percent of their overall investment.
According to Huang Qingfeng, a stable domestic economic policy is a major prerequisite to attract overseas investment. Meanwhile Shaquem Griffin Jersey , BRICS countries can improve their standard of service and guarantee for overseas investors.
"Using the renminbi as a settlement currency, as well as providing more convenient tax and visa facilities, can prompt more Chinese companies to invest in BRICS," Huang said. "More financial and consulting services are needed to help lower risks."
China Economic Information Service and PricewaterhouseCoopers China published