Abstract:In recent years, China's outbound investment in mining industry has grown rapidly, which is generally attributed to the will of the government and the behavior of state capital in the international world, and it is questioned whether China's state-owned mining enterprises have real outbound investment capacity. To this end, this paper uses the "comprehensive analysis framework of development opportunities and paths of specific industries in a country", taking China Minmetals as a typical enterprise, to analyze the formation mechanism of Chinese mining enterprises' foreign investment capacity. The results show that under the influence of external environment, foreign capital and domestic government, China's mining industry does have a clear industrial capacity building process. In this process, Chinese mining enterprises with Minmetals as a typical example have built up their own capacity system in the competition and accurately grasped the opportunities brought about by the changes in the external environment by partially undertaking the capabilities of China's mining industry, formulating correct development strategies, and finally realized more overseas investment in recent years. It can be seen that after nearly 40 years of systematic development, China's mining enterprises have a real ability to invest abroad.

Authors: Chen T.T., Xu.R,Chen.C

AIB China branch, 2018