China approved 15 oversea investment plans, tyre project invovled

National Development and Reform Commission (NDRC), China’s top economic planner, gave a green light to 15 overseas investment plans at one time on Monday, making a record number of approvals since this year, according to Beijing Business Today.

These overseas investment plans include projects for energy, finance, telecommunication, infrastructure construction, the statement of NDRC said on its website.

Among them, there are seven projects in the field of energy, including three solar energy projects, one project of nickel ore, one acquisition of an oil company, as well as another two projects of power generation. The intensive approval of energy investment projects in oversea markets may signal China’s intension to increase its expansion of energy overseas, and also to tap foreign markets to solve the over capacity problem of photovoltaic production at home.

Additional approved investment plans include projects in rubber, infrastructure, ship production, tyre, and telecommunication, with another two related to share acquisition in industrial enterprises.