Watch Out, China Inc. Is Going Global. Again
Chinese companies are raising capital in Europe as they look to expand production bases there. It’s an astute move.
Moving on.
Photographer: Krisztian Bocsi/BloombergChina Inc. is going global again. This time via Europe, as industrial companies tap into rising pressure across the region to go green.
A string of Chinese industrial firms including construction machinery giant Sany Heavy Industry Co. and electric-vehicle parts supplier Zhejiang Sanhua Intelligent Controls Co. have raised billions of dollars on the SIX Swiss Exchange through global depositary receipts since a cross-listing program was launched in July last year1. Now China’s battery heavyweight Contemporary Amperex Technology Co., or CATL, is jumping in, seeking to raise at least $5 billion through GDRs in the largest such issuance by a Chinese company.