China quietly sets new 'buy Chinese' targets for state companies

Re:China quietly sets new 'buy Chinese' targets for state co... by refurb on Tuesday August 03, 2021 @11:15AM (#28050184)

Ha, it’s funny cause it’s true. The risk was always there. The pension fund can’t play dumb.

My only question is China apparently doesn’t think it need foreign investment any more? I mean this latest move will scare a lot of foreign investment away (“that’s a nice valuation you have, would be a shame if we made all for-profit companies illegal”). No doubt the Chinese are smart enough to know this so I assume they have enough domestic wealth to supply any capital needs?

Still, scaring off the international markets seems like a bad move.

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Re:China quietly sets new 'buy Chinese' targets for state co... by ralph84 on Tuesday August 03, 2021 @11:44AM (#28050601)

> My only question is China apparently doesn’t think it need foreign investment any more?

China hasn't really needed more foreign investment for quite a while. They get plenty of foreign capital from international trade.

What they needed was foreign IP, which they acquired by forcing foreign companies into joint ventures if they wanted access to the Chinese market. Not to mention state-sponsored industrial espionage.

At this point it's safe for any foreign investor to assume that any investment proposal in China that doesn't involve the transfer of IP to China is a scam.

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Re:China quietly sets new 'buy Chinese' targets for state co... by refenestrator on Tuesday August 03, 2021 @11:30AM (#28050379)

China never wanted foreign investment/ownership of their tech companies, that's why this cockamamie scheme with an associated service company listed in NY arose in the first place.

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