China firms hungry for more resources

Companies to continue global hunt for lucrative commodities

SHANGHAI: China, the world's largest metal consumer, will add to last year's record $32 billion spending on resource acquisitions as demand for iron ore, copper and oil soars with the fastest economic growth since 2007.

Chinese companies will hunt for iron ore, coal, oil, copper and gold assets, said Jing Ulrich, the chairwoman of China equities and commodities at JPMorgan Chase & Co in Hong Kong.