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China power giant gobbling up foreign players

State Grid Corp. of China's investment abroad may hit $50bn by 2020

BEIJING -- State Grid Corp. of China(SGCC), one of the companies spearheading Beijing's 21st-century Silk Road project, plans to boost its overseas investment to up to $50 billion by 2020.

Since first venturing abroad in 2009, the state-run power transmitter and distributor has increased its cumulative overseas investment to more than $10 billion, including the purchase of stakes in power grid operators in Brazil and Greece in 2016. A big factor driving the overseas push is the attractive foreign earnings-to-assets ratios, which are three to five times higher than those in China.

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