China's Industrial and Commercial Bank of China on Monday officially opened its branch in Melbourne.
China will become the main customer for Iraqi oil by the 2030s, with the Middle Eastern country overtaking Russia to become the world's second-largest oil exporter by then, the International Energy Agency said on Monday.
The Industrial and Commercial Bank of China Ltd, the world's biggest lender by market value, was given the go-ahead by Argentina's central bank to conduct its biggest takeover in nearly four years in the South American country.
It got the formal approval on Nov 8 to buy an 80 percent stake in Standard Bank Argentina and its two affiliates for $650 million, asset manager Standard Investments and Inversora Diagnol, a commercial service provider, ICBC said in a statement released on Saturday.
Sany Group, a leading producer of construction machinery, said it will continue to seek merger and acquisition opportunities in the European Union.
China's construction machinery giant Sany Group said it aims to boost its sales abroad to 40 to 50 percent of its total sales within five years.
Hainan Airlines Group, owner of China's fourth largest carrier by fleet size, plans to buy stakes in more overseas airline companies.
Top Chinese contractors are looking to take part in railway projects in the United Kingdom, seeing that as a way to promote their brands in developed economies.
China's mining and metals companies are taking advantage of global caution to seize merger and acquisition opportunities in the sector in overseas markets, experts at Ernst & Young Global Ltd said on Monday.
The China Civil Engineering Construction Corporation Monday declared open of its railway technology training center, which is mainly set up to train local artisans and technicians on how to manage the Nigerian construction industry.
As private Chinese companies invest more in overseas resources projects, they are seeing advantages from a new source: the acceleration in the global use of the renminbi.
Private mining companies, with the support of domestic banks, should seize opportunities they now have in the overseas resources industry, said Guo Jianwei, deputy director-general at the monetary policy department of the People's Bank of China, at the 2012 China Mining Expo in Tianjin over the weekend.
China's overseas mergers and acquisitions gained traction in recent years as domestic policies encouraged cash-abundant companies to spend on foreign assets amid the worsening eurozone debt crisis.
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