Chinese private firms to expand overseas

(MENAFN) In search for more profits, many Chinese private companies are expanding in overseas markets, Xinhua reported. It is reported that Chinese private firms are involved in many oversea enterprises in real estate, food and other areas in recent years. Fosun Pharmaceutical (Group) Co. announced on its website that it is involved in a bidding war for Chindex, and American healthcare company, and has raised its offer. "Now it might be the best time for Chinese enterprises to seek mergers and acquisitions (M&A) overseas," CEO of Fosun said.