China still spending on foreign energy

China announced a $US1.63 billion investment in an Australian liquified natural gas operation overnight.

The Australian reports:

China’s desire to secure the oil and gas supplies critical to its growth and the comparatively cheap finance available to its energy giants means the spree of big-ticket acquisitions by the likes of PetroChina, Sinopec and CNOOC won’t end soon.

The valuation on this deal is lofty and that signals China could be more willing to invest further in Australia than was believed. Canada closed the door to Chinese takeovers after the Nexen deal but is still open to less-than-50% investment.

Author: Adam Button

Adam Button is the managing editor of ForexLive™. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes there's an edge in knowing every tidbit of news. He was formerly the head of the markets team at the Canadian Economic Press and is a graduate of Ryerson University. Adam lives in Montreal, follow him on Twitter: @FX_Button.

3 Comments

  1. Hi Adam…

    which trend for yellow metal?

  2. I’m not a huge fan of gold at the moment.

  3. Hi Adam, please tell me why eur/jpy is going high and high?

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