Chinese business assets grow to $3.9 trillion

Global Chinese business assets grew to $3.9 trillion in 2009, a 56 percent growth from 2008, and a slight 5 percent rise compared with $3.7 trillion in 2007, according to the 2009 World Chinese Entrepreneurs Development Plan released by the China News Agency special seminar group Thursday, the Xinhua news agency reported.

Of the $3.9 trillion assets, $3 trillion is from 335 large listed Chinese companies whose headquarters are away from the Chinese mainland, $750 billion is from Asia-based big private companies and small and medium-sized ones, and the other $160 billion assets are from non-Asia areas.

Assets bubble, depreciation of the US dollar and China's economic recovery are the three key reasons behind the global Chinese business development in 2009, the report said.

Chinese enterprises, especially the big state-run listed corporations, will exert more influence on global Chinese entrepreneurs' development, according to the report.

However, despite the growth of total assets volume among global Chinese entrepreneurs, the profits shrank dramatically compared with before the world financial crisis, the report said.