Once Gun-shy, China Gains Deal-making Confidence

From Reuters, via The Guardian:

Emboldened by recent success and backed by Beijing’s deep pockets, an increasingly sophisticated China Inc is poised to make bigger overseas acquisitions in its quest to secure , technology and prestige.

State-run Chinalco’s $14 billion swoop on Friday for a chunk of global miner Rio Tinto in China’s largest foreign investment was funded by a state policy bank and underscores the ambition and financial might wielded by Beijing.

It affirms China’s ability not only to identify deals, but to complete them — something mainland firms have not always managed to pull off. Settling for minority stakes shows a recognition of political realities abroad and management limitations at home.

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