CNOOC Shuns Corporate Acquisitions as Protectionism Mounts

摘要

The head of China National Offshore Oil Corp. (CNOOC) says the Chinese state giant is steering clear of corporate acquisitions during the economic downturn because of growing protectionism. Speaking on Sunday on the sidelines of the Boao Forum Asia, a regional business and political summit, CNOOC Chairman Fu Chengyu said that although the financial crisis has resulted in lower asset prices, it has also spawned greater economic nationalism, which has made deal-making increasingly risky