Guangdong's private firms boost foreign investment

Private enterprises in Guangdong province are showing greater enthusiasm for investing overseas, motivated by increasing opportunities arising from the Belt and Road Initiative, according to a report.

Such enterprises, in fact, have gradually become the new force of Guangdong's outbound investment, it said.

The percentage of overseas registered wholly owned subsidiaries and joint-stock enterprises (institutions) set up by private enterprises began to rise in 2011, from 87.9 percent to 95.4 percent in 2015, the report shows.