24 August 2019

Govt eyes new measures to spur overseas acquisitions, paper says

China will unveil a package of measures to help companies expand overseas, including financial and tax support, in a bid to reduce industrial overcapacity, China Securities Journal reported Tuesday, citing unidentified sources. Banks will also be encouraged to set up overseas branches and strengthen service networks to meet the firms’ financing needs related to foreign investment, the report said. The latest efforts are expected to spur overseas acquisitions and exports by Chinese firms, particularly in infrastructure, electronics and carmaking sectors, analysts were quoted as saying.

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