自2008年全球金融危机以来，中国境外投资呈现“井喷式”发展，根据商务部的预计，明年（2015）中国对外投资的规模将首次超过利用外资规模。[1]澳大利亚是中国企业“出海”最早“登陆”的国家之一，也是仅次于美国的中国海外投资第二大目标国。矿业无疑是澳洲吸引中国投资最多的行业——尽管受到市场需求下降、碳税政策、资源替代国涌现等诸多因素的影响，中国对澳洲矿业的投资额近年来有所下降，但仍占投资总额的绝大部分。
过去几年中，中国企业对澳矿业投资项目遭受损失的报道屡屡见诸报端，一度影响了中国投资者的信心。但近一两年以来，根据我们的观察，一些中国投资者已经具备了在澳洲成熟市场上实施复杂跨境交易的经验和能力，实施了相当成功的交易。本文中，我们将透过最近一宗备受瞩目的交易——宝钢联合体对Aquila的收购，对在澳成功进行矿业并购项目的主要因素进行分析。
Continue Reading 从宝钢联合体对Aquila的收购看中国对澳矿业投资的成功要素
By Xiong Jin King & Wood Mallesons’ Corporate Group
Since the global financial crisis in 2008, China has seen explosive growth in overseas investment. The Ministry of Commerce forecasts that the size of China’s outbound direct investment will exceed that of foreign capital utilization for the first time in 2015. [1] Australia is one of the earliest countries which Chinese companies have gone out for, and is the second largest target for China’s overseas investment, second only to the United States. Mining is undoubtedly the industry that has attracted most investment from China into Australia. Although there has been a decline in China’s investment into the Australian mining industry in recent years due to factors such as the falling market demand, carbon tax policy, the emergence of alternative countries with resources, the investment in the mining industry in Australia continues to account for the majority of the total investment value.
Continue Reading Factors for Successful Chinese Investment in the Australian Mining Industry: A Case Study of Baosteel Consortium’s Acquisition of Aquila
