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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (2112)	12/19/2003 12:10:42 AM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

China plugs into overseas opportunities By Richard McGregor Published: December 18 2003 4:00 \| Last Updated: December 18 2003 4:00 When Li Xiaopeng, chairman of Huaneng Power Group, was asked why the company this week bought into the Australian market, he replied the deal would help it join the ranks of the world's leading 500 corporations by 2010. With generating capacity in China expanding at 20-25 per cent a year and demand by 10 per cent, many might have thought Huaneng, the country's largest independent power producer, had enough on its plate. But Huaneng is only one of many Chinese companies snapping up assets overseas, and it would be wrong to suggest such purchases are aimed solely at burnishing their corporate egos. Huaneng's $227m purchase of a half share in Ozgen, a subsidiary of Intergen, the Boston-based power company, is in line with a number of deals involving Asian investors buying out US companies in Australia's power market. news.ft.com