Chinese companies increase their global expansion in 2023
The Bund skyline, Shanghai, China

The Chinese government is encouraging state-owned enterprises to advance in “global expansion,” especially to conduct technology research based on national strategic and industrial development needs. Many state-owned companies, including China Railway and Sinochem, have changed their investment strategies. They seek opportunities generated by bilateral and multilateral free trade agreements such as the Belt and Road Initiative and the Regional Comprehensive Economic Partnership.