Chinese enterprises positive on BRICS

SHANGHAI. — 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, 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, 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, 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. — Xinhua.

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