Chinese investment in west Asia rises 65.2%
Updated: 2015-11-05 20:05
By Wang Xu(chinadaily.com.cn)
Chinese investment in west Asian countries rose by 65.2 percent last year and was mainly focused on the energy sector, a report on the development of the Middle East released by a leading Chinese institute said on Thursday.
The report, by the Institute of West-Asian and African Studies at the Chinese Academy of Social Sciences, said the sharply increasing investment was due to three key factors: China's strong demand for energy resources; growing income in most west Asian countries and the increasing need for infrastructure.
The demand for energy will continue to see a rise in Chinese investment in west Asian countries, which are main energy providers, the report said.
With growing incomes there is a huge demand for products for industrial development and household consumption, which makes them turn to China, a manufacturing giant and upgrading infrastructure gives Chinese contractors a massive market, the report added.
In addition, the report suggested that Sino-Egyptian cooperation, especially in the labor-intensive manufacturing sector, will boost job growth in the northeast African country.
Sino-Egyptian cooperation in production will certainly be a win-win one, the report said.