Media Digests

No direct Chinese investments in Libya

Updated: 2011-08-25 17:52

By Hao Yan (

Twitter Facebook Myspace Yahoo! Linkedin Mixx

Reports of China's losses in Libya are inaccurate, said Shen Danyang, spokesman of the Ministry of Commerce, on Wednesday. China does not have direct investments in Libya, only contract projects, he said.

"Any government in any county will consider the market demands and the economy benefits. Chinese enterprises have competitiveness around the world in trades and investments," said Shen when asked about the investment prospects of China's crude oil enterprises in Libya.

Shen expressed hope to see Libya return to a stable condition, and to further cooperate in business and trade with the country. China, along with the global community, will contribute actively to Libya's rehabilitation.

Earlier this year, Zhong Manying, director of the department of West Asia and Africa under the Ministry of Commerce, said 26 Chinese enterprises were involved in businesses in Libya. Their businesses, valuing more than $20 billion, were in property, railway, crude oil service, and telecommunication.


Flying the TCM flag

A small German town is home to Europe's flagship clinic for traditional Chinese medicine

Hunting grounds

Opinion divided as China debates opening door to international players

Animal attraction

World's youngest chief fur designer set to launch own label and tap into huge China market.

Biden Visits China
My Chinese Valentine
Wen pledges 'open' probe