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1 1 (July 14, 2022)

handle is hein.amenin/aeiaejw0001 and id is 1 raw text is: Key Points 'ne Cinese oo'mmrent cnr tinuCs o iy its outbound investment and construction are rernma''r<y cmowrt deie C I--o. insCeo asures by Chinese firms unsurprsingli indica00 ovLherwis'o-tha Cdwns cx:ndr'r 'hi pandern!ic-riven slump th rough the firs t ha'fof 2_ . , oCertan cmthoites are artial ex ptins. r il and eas valuations have been drive: up by ih gbal pnCes. Chinese iirms are casi :rcc i nne Lu and rlated opportunitis in batery prodcltin. 1he pcertial for hihr 0pendirg pst--pardemc rmin;. Te n Wasr previousy roncrnod an ut CInese a C&qustions t A-rn'riCan teChno ogy tis. This nas a11 bit Csppc, bUt Amrican ivE ares o up p2ortng tochInoloCgy developmnt :n hin. .he UY has failed o tI k I asic teps, suha as fIndir Cu xacty where mnorey is going. From 2.005 tiirough 2oo9, the China Global Invest- ment Tracker tit otficial Chinese hogures for out-- bound investment while proiding informa0tion on individual transactions that the goverament does° not. COVID-r9, however, created a large ga betwen the tracker and ofiifiial igures, Ie traCier relies on disclosures byr participting ntrms. These have been spottier durin the pandemic and can no longer be reconciled with government claims. since early 2020, China's -erifi ble outbound investment has been $1oo billion bew what it reports annnua.y. The Chine Global Investmient Tracker (CGIT) from the American Enterprise Institute and H ert- age Foundation is the most complete public reonrd of Chia's investmemt and construction warldEwke, with 4,200 transactions from 2005 through tie middle of 2zoz The CGI' offers superior ioinf - na.tion to the government on firms, sectors, and co untries. efore COVID -t, the CGIT nould not docurn-nt perhaps a hand-u] of Iroe transactiions annually. Two problems hav'e since emerge-: Firms ma' be lese .ransparent, En3 Cth egrage 7ransac- tion size has definitely falkln, Thn CCIT excludes transacti+:ns ne lo $9' imiio an isses m4m e. e deas when the average size falls. Oft lml n'imbers are in worse stape. Itn 2020., China ten the world faced the. ndemic. Never- tieless, the Vihtistry of Commerce (MOf'COM) intsi ted4 oubon1d iEvestmCnt rep? i., percent tromin $1i bllion in 20197 No independent source was close to this resulti For '021, MOFCOMI reported a smna1 spending gain wrth It he 2o2o base mai ntr-hen total ansurdly high. Gthcr sources, with faster 221 i ncre'a'ss thi 'MFC IM indicates, still show a s tep vol- umne drop from. zo19. The large bulk ;f officia 2021