Chinese companies are buying up overseas assets at a faster pace than U.S. buyers for the first time on record. This website, updated weekly, takes a close look at what China is acquiring, and where. The numbers reveal a lot about the country’s growing global ambitions.
On Oct. 18, China Life Insurance Co Ltd agreed to buy select-service hotel portfolio fromStarwood Capital Group LLC for $2 billion. Here’s how this deal compares to China’s other overseas acquisitions:
China’s overseas dealmaking started as a hunt for the raw materials needed to feed steel mills, support industrial production and keep the nation’s factories humming—the so-called old economy.
As China grew, so did its appetite for foreign acquisitions. They’ve shifted focus to acquiring the brands and technology China needs to transition to an economy driven by domestic consumption more than exports, labeled here as the new economy.
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