China's accelerating overseas buys raise fears
- Published: 12 Dec 2012 at 10.46
- Online news: World
China's biggest overseas takeover, the $15 billion purchase of Canada's Nexen, is a huge step in Beijing's push for foreign acquisitions -- but its drive to secure resources and markets is causing unease.
This file photo shows a general view of the Chinese energy giant CNOOC and Anglo-Dutch firm Shell petrochemical plant in Daya Bay, in southern China, pictured on July 28, 2009. Chinese firms have become more active in mergers and acquisitions since the global financial crisis that began in 2008, as economic distress has thrown up bargains around the world.
Ottawa last week approved Chinese state-owned energy giant CNOOC's purchase of the oil and gas company, despite political opposition in Canada.
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