DealLawyers.com Blog

June 30, 2005

What’s Next for China, Inc?

You just knew I couldn’t resist jumping into the fray caused by CNOOC’s bid for Unocal. First, it’s IBM, then Maytag, now Unocal. If all this has you wondering if China’s going to be the 21st Century’s version of Japan, Inc’s buying spree of US companies, I think the answer if yes .. and then some.

So what else might China, Inc be eyeing? You’ll be interested to know that last year, the Chinese government actually telegraphed its intent by publishing a list of preferred industries that China wants its companies to pursue. The list is called the “External Investment in Various Countries Indistrial Guidance Catalogue.” With the compliments of Jean-Marc Deschandol, Managing Partner of the Bejing office of Norton Rose, this so-called “Outbound Catalogue” is attached for your reading pleasure. I can hear the scintillating conversation you’ll be having on your July 4th BBQ.

If you look at the US targeted industries, you won’t find energy. Maybe China left it out on purpose because energy’s so politically sensitive. Or it’s just a reminder that the Catalogue merely a non-exclusive list.

Now you’re one step closer to getting on board the China, Inc. Love Train…