China informationI can see why Tongling wants to own a larger stake in Canada Zinc Metals. And quite possibly own it 100% in due course (take-over bid?) Tongling is a state-owned Chinese mining company.
Here is an excerpt from Lawrence Roulston's recent observations re: China:
China remains the top destination for foreign direct investment. In the first seven months, the country received $58 billion from overseas, up 20% from a year ago. The figure is expected to reach $100 billion by year end. Even more significant, China is moving into the number two spot worldwide (behind the US) for outbound
direct investment, with that figure projected to reach $50 billion for the year. Much of the outbound direct investment relates to the acquisition of commodities. Another example is the takeover of Swedish
carmaker Volvo by a Chinese automaker. The latest global competitiveness report showed the US has dropped from the number one position to fourth place. China rose 2 spots to 27. The index includes 12
measures, such as infrastructure, the economic environment, education and financial markets. The other BRIC nations (Brazil, Russia, India) ranked 58, 63 and 51, respectively. The latest Fortune Global 500 company ranking includes 54 Chinese companies, with three in the top 10.
China has surpassed South Korea to become the world's largest shipbuilding nation. In the first half of the year, China produced 41% of worldwide shipping capacity.
Infrastructure development is continuing at a torrid pace. Recent projects getting underway include a 680 km rail line to bring resources from the western part of the country to the coast and a 2,380 km gas pipeline to bring gas from neighboring Myanmar.