The volume of Chinese companies'........>

CHINA PRESS: The volume of Chinese companies' overseas investments have grown

rapidly, but achieving high-quality overseas investments is key to their future

development, The People's Daily, the official newspaper of the Communist Party,

reported Monday. Some Chinese companies' outbound investments are only

undertaken for the sake of "going abroad" and expanding into global markets

without thinking about how to achieve a bigger role and influence

internationally, the newspaper said. Chinese companies need to learn local

cultures and be able to adapt to changes in foreign countries in which they

invest, the newspaper stressed. Liu Ying, researcher at Chongyang Institute for

Financial Studies at Renmin University in Beijing, was cited as saying

introducing advanced technology, products, services and marketing networks in

China is also important to support Chinese companies' investments abroad. Zhi

Yulin, assistant manager of China North Industries Group Corporation, said the

yuan's internationalization should be sped up to provide better support for

Chinese companies' outbound investments and trade. (People's Daily)