Foreign Media Observation on China 2011 Week 19: China ranks first in shipbuilding in the world – Entering the hometown of overseas Chinese – Sponsored by Italian Xinhua Times, Xinhua Media Network, Chinese Chamber of Commerce and Industry

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On the 4th, China Yonghui Group Holding Co., Ltd. agreed to pay US$90 million to Russia’s ItaraneftGas to acquire 60% of the shares of Cyprus Divalane Co., Ltd., which owns the mining rights of Russia’s Apsatskoe coal mine project. Yonghui Group stated that the transaction will be completed upon approval by the Russian antitrust authorities.

On the 7th, the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) recently released a report stating that China’s direct investment in Latin America and the Caribbean reached US$15 billion last year, becoming the third largest source of investment in Latin America. (China News Financial Channel)