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China encourages local firms to invest globally



China is encouraging its local companies to expand globally, particularly in lower-income countries, to boost investment and create jobs, stated Vice Finance Minister Liao Min. Speaking at an IMF and World Bank event, Liao highlighted China’s significant role in the G20 debt suspension initiative, aiding debt-stricken nations. Despite Western criticisms of creating debt dependencies through its Belt and Road project, Liao defended the initiative as pragmatic and beneficial, noting China’s substantial global credits exceeding USD1tr. Domestically, amid economic recovery efforts, China has tightened controls on IPOs to stabilise its market, influencing companies like Syngenta to reconsider large-scale public offerings. Concurrently, Geely’s premium EV brand Zeekr plans a USD500m IPO in New York, resuming previously paused efforts.

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