"In a very short period of time we have seen a marked increase in the number, and value, of payments companies are sending to China through the renminbi."

Gareth Heald, regional finance director of Western Union Business Solutions. The number of foreign companies using the yuan as their currency of choice has surged after the People's Bank of China allowed Chinese importers and exporters to settle transactions using the yuan from March.

"Unlike state-owned enterprises, which tend to concentrate on acquisitions in the energy and finance industries, private companies' M&A deals have become increasingly varied."

Peter Fung, chairman of KPMG Global China Practice. Private Chinese enterprises, despite having relatively little capital, took part in more overseas mergers and acquisitions than their state-owned counterparts did in the past three quarters.

"Increasing oil imports from Iraq is very possible and beneficial for China. Compared with other countries in the Middle East, Iraq is relatively stable at present, but we still should be aware of the risks."

Lin Boqiang, director of the China Center for Energy Economic Research at Xiamen University, who said China should also look to Canada for energy supply.

(China Daily 11/16/2012 page14)