From AFP, via Financial Express: “The acquisition of the French perfume and cosmetics group Marionnaud by AS Watson, a company owned by the Hong Kong magnate Li Ka-shing, is another indication of how Chinese investors are expanding abroad.
Until recently, China was considered a developing country, and initial international investments tended to be aimed at securing natural materials, in particular in Australian and South American mines.
Purely commercial international ventures are relatively recent on the part of groups based in mainland China, going back around four to five years, though investors in Hong Kong have been active for some time. ”
