Going Global

Abstract

The chapter documents the growth of Chinese outward direct foreign investment (OFDI) and overseas projects carried out by Chinese contractors. The chapter discusses some of the problems in measuring Chinese OFDI. It shows the continuing importance of state-owned enterprises in China’s Go Global policy and discusses whether the international expansion of Chinese firms is primarily state driven or market driven. It shows that although political objectives played a role in the early expansion of Chinese firms, strategic economic factors and commercial objectives have played the most important roles in recent years. Resources and markets have been major drivers of the internationalization of Chinese firms. Chinese firms have also been involved in strategic-asset-seeking investment in developed countries.