Total overseas revenues of A-share companies approached 12.4 trillion yuan (US$1.8 trillion) last year, accounting for nearly 17 per cent of their total income – both figures representing all-time highs, according to data from state-backed newspaper Securities Times.
A group of companies that have effectively localised their operations across continents is leading the charge, topped by PetroChina, the listed arm of state-owned China National Petroleum Corporation, the country’s biggest oil producer. It said that crude output in foreign markets grew 1.8 per cent to nearly 168 million barrels last year.
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