One result is the emergence of a small but growing wave of acquisitions by foreign companies of existing joint venture or wholly-owned firms. This is something we are going to see a lot more of in the future. On a global level, the spending on takeovers in China is still very small. Even neighbouring Korea, where the chaebols are being forced to restructure, focus on a core business, and divest themselves of scores of affiliated companies, dwarfs anything that is happening in China. It is hard to understand this.
China has a large population and a lot of people have no jobs.
Mr Ma said. I think officials should realise that it is very stupid to exclude labour-intensive investment. The Chinese Government broke away from its long tradition of control over grain reserves surplus, when it auctioned some of the country's grain reserves last week. The auction will give China experience to further break the monopoly of the country's grain distribution system, which for decades has been operated by State-run grain supply and marketing companies, the official China Daily quoted analysts as saying. The three day sales event, which took place in Henan, reflects the government's efforts to reduce the surplus of old grain in State grain storage facilities across the country, and shows the authorities' confidence in the wheat yields this year, officials with the State Grain Reserves Bureau commentated.