Chinese Firms Dump Overseas Investments At Near-Record Pace

Read more on this subject: China
News Story Source: https://www.zerohedge.com, by Tyler Durden
"These days, Chinese companies are proactively looking at their asset portfolios, rather than simply buying," Bagrin Angelov, head of China cross-border mergers and acquisitions at China International Capital Corp., told Bloomberg in an interview. "When there is a good offer, they are open to at least evaluate it."

Data compiled by Bloomberg shows Chinese companies have already divested $10.5 billion worth of overseas assets. The current trajectory suggests a record-setting year, surpassing last year's $15 billion. 

The latest round of selling isn't coming from distressed Chinese sellers but rather ones who bought businesses with robust cash flows – whose valuations have surged over the past year due to global central banks unleashing unprecedented amounts of liquidity into the global financial system, putting a bid under assets. 

Chinese companies are also selling infrastructure and utility firms. Beijing Capital has listed a New Zealand
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