Chen Weidong, senior economist of the Energy Economics Institute of China National Offshore Oil Corporation, defended China’s energy overseas expansion, dismissing the worries that China’s overseas acquisition is a new form of economic invasion.
“Chinese overseas investment has helped to develop local economies and create jobs in resource countries with no intention of any form of colonial (exploitation),” he said.
The Chinese upstream asset acquisition drive is simply part of an overall transformative process in the global energy industry, he said.
“The
