China Expands Its Influence Around The World
RENEE MONTAGNE, host:
China's global reach is at the top of NPR's business news this morning.
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MONTAGNE: China continues to expand its influence around the world, especially in developing countries.
The Financial Times newspaper reports that over the last two years, Chinese state banks have issued loans worth more than $110 billion to other governments and private companies. That is more than all the loans issued by the World Bank, the multinational organization whose main mission is lending to developing countries, including China.
Some of China's loans have been to oil-producing countries like Russia, Venezuela and Brazil. Beijing has lent to Indian companies to buy power equipment and to African countries to help build their infrastructure.
STEVE INSKEEP, host:
And as loans go out from China, money is flowing into China. It's coming from foreign companies, trying to get a piece of the rapidly growing market in that country. Chinese officials said today that foreign direct investment into factories, real estate and other businesses reached a record $105 billion last year, and that is up more than 17 percent from the previous year. Transcript provided by NPR, Copyright NPR.