OAO NOVATEK (“NOVATEK” and/or “the Company”) announced today the closing of the sale of a 20% participation interest in Yamal LNG Project (“Project”) to CNODC, a subsidiary of China National Petroleum Corporation (“CNPC”), upon the receipt of all necessary regulatory approvals from Russian, European and Chinese authorities.
RBC-Daily: Celestial Prospect
- Caderus in Media
- Hits: 3425
From the country that have been actively and productively absorbing international direct investment over the past three decades, China has become the world's largest investor.
China's overseas investment will maintain robust growth in the coming year thanks to the central government's reform plans, officials said on Wednesday.
"The government's reform plans suggest that China will further open up the overseas investment of Chinese enterprises. Policies will be optimized, and support will be increased. It's certain that the robust trend of China's overseas investment will continue," said Zhang Wei, vice-chairman of the China Council for the Promotion of International Trade and the China Chamber of International Commerce.
China's widening VAT reform has resulted in a tax reduction of 93.97 bn yuan ($15.31 bn) for businesses in the first 10 months of the year, according to the the State Administration of Taxation.
The capitalization of China's stock market will account for 20 percent of the global total by 2030, supported by the privatization of State-owned enterprises, British bank Standard Chartered Plc has forecast. That share will put China just behind the United States, which is forecast to account for 21 percent of the world's total equity market value.
China's GDP is expected to exceed that of the United States in 2022, according to a report by Standard Chartered Bank forecasting the global economic outlook in 2030. The report, released on Thursday, said that the success of China's reform holds the key to its economy, which will grow at a rate of 7 percent between 2013 to 2020 and 5.3 percent between 2021 to 2030.