CIAO DATE: 12/2011
November 2011
The Woodrow Wilson International Center for Scholars
China’s upstream oil industry is dominated by four large corporations that are majority state-owned, but also listed on Chinese and international stock exchanges, including the New York Stock Exchange. Each of these companies (CNPC, Sinopec, CNOOC, and Sinochem) has overseas as well as domestic upstream operations. The mining industry currently includes some twenty large corporations that have overseas exploration or production activities, and a very large number of smaller mining companies, both state and privately owned, that operate predominantly within China. Consolidation in the state-owned mining sector to create a smaller number of large corporations is underway, and further concentration is expected. The large state mining houses are, like the oil companies, starting to secure stock exchange listings in Hong Kong and New York. Though most of the large mining companies that currently operate overseas are majority state-owned, some wholly private-sector mining companies are found overseas, too.
Resource link: Going Global: Chinese Oil and Mining Companies and the Governance of Resource Wealth [PDF] - 701K