China sent a naval frigate to evacuate 12,000 – or about one-third – of its citizens from turmoil in Libya, many of them workers for Chinese-run projects in the oil-rich nation, Reuters reported. The mass evacuation highlights the risks involved with Beijing’s push to get firms to seek business in developing nations. The projects are often located in conditions considered too difficult or poorly paid for Western firms. Workers were told to leave the increasingly dangerous conflict area, where opposition forces are pitting against long-time Libyan leader Muammar Gaddafi. The Ministry of Commerce has said 75 Chinese companies operate in Libya, including CNPC, parent company of PetroChina (601857.SH, 0857.HK). “China has suffered large-scale direct economic losses in Libya, including looted work sites, burned and destroyed vehicles and tools, smashed office equipment and stolen cash,” the ministry said in a statement.
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