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Strategic-asset-
Do China’s “national team” seeking OFDI
business groups undertake
strategic-asset-seeking OFDI?
Dylan Sutherland 11
The School of Contemporary Chinese Studies,
The University of Nottingham, Nottingham, UK
Abstract
Purpose – This paper aims to explore the contribution of China’s largest business groups to China’s
outward foreign direct investment (OFDI), looking particularly at the question of whether they
contribute to strategic-asset-seeking OFDI.
Design/methodology/approach – It uses national-level data and business group OFDI data to
explore the sectors from which OFDI originates and destinations to which it is sent. From this
conclusions are drawn as to the types of investments being made.
Findings – In the national context strategic-asset-seeking OFDI from China has been rather limited
to date. Instead, OFDI expansion still appears more closely linked to China’s expansion as a trading
nation with a natural resource deficit. Strategic-asset-seeking OFDI when it does take place, moreover,
is orchestrated to a large extent through large state controlled business groups, as is much other OFDI.
Research limitations/implications – A limitation of this research is the reliance on official data
and the assumed simplification that most strategic-asset-seeking OFDI is concentrated in the
manufacturing industries.
Practical implications – More attention should be paid to the role of these select business groups as
they play a significant part in China’s OFDI.
Originality/value – There is a growing presumption that much of China’s OFDI is
strategic-asset-seeking in nature and that new theories are required to explain this trend. Many
firm-level studies, however, rely upon just a few high-profile but unrepresentative cases. This paper
redresses this imbalance. It also shows that China’s largest trial business groups have played an
important role