Beware risk with ASEAN investment
Members of the Association of Southeast Asian Nations (ASEAN) have become magnets for Chinese investment amid the global economic slump. Among the most recent deals, Hunan Province-based Xinyuan Mining Co Ltd bought a license to exploit a 28 million square meter gold mine in Cambodia, and Canxiang Mining purchased equity in a Canadian gold miner’s exploitation project in Cambodia valued at $2.4 million. Chinese investors gravitate towards ASEAN countries due to their abundant commodity resources, lower labor costs and maturing capital market. …
