Chinese expanding overseas energy projects portfolio

Chinese energy companies have secured foreign energy projects with a combined value of US$1.4 billion.

The National Development and Reform Committee recently approved these overseas energy projects, which it believes can supplement China's energy and resources and help eliminate overcapacity in some industries such as solar energy.

He Zhenwei, vice-secretary general of the China Industrial Overseas Development & Planning Association said energy and resource businesses' overseas are good for China’s industry and the adjustment of its economic structure.

He also noted overseas projects increase employment in the related countries and promote integration of advanced international companies.

Chinese companies developing their overseas businesses can make themselves stronger competitors and increase their influence in the international energy market.