Chinese companies tripled their greenfield investments in developing countries in Asia last year, in the latest sign of how the commercial landscape of the region is being reshaped by the trade war between Beijing and Washington, said the Financial Times.
Data from the Asian Development Bank (ADB) showed that greenfield investment by Chinese companies in the 44 Asian countries, reached $54.9 billion in 2018, up 198% over 2017.
China’s greenfield foreign direct investment centered on Southeast Asia and covered a wide range of sectors, including machinery and electronics in Vietnam and Malaysia, software and electronics in Singapore, metals and hydrocarbons in the Philippines and textile production in Kazakhstan and Bangladesh, reported the Financial Times.