Wendy Leutert, Elizabeth Plantan and Austin Strange, Fairbank Center Blog, 29 June 2020
Two parallel trends within the field of international development are converging. The first is the rise of Chinese state-owned enterprises (SOEs) as dominant players in the global infrastructure market, supported by Chinese development finance. Between 2000 and 2014, a sprawling network of Chinese government ministries, provincial governments, and policy banks supplied over $350 billion in official financing. Combining construction capability with ready financing, Chinese SOEs have implemented thousands of infrastructure projects overseas. Beyond Chinese-financed projects, SOEs are diversifying their portfolios and financing by actively bidding on infrastructure projects funded by national governments, foreign commercial and development banks, and private companies.
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