CHINA-ECONOMY: EUROPEAN FIRM ASSESSES CHINA'S FOREIGN LAND HOLDINGS AT APPROX. 6.48 MILLION HECTARES
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Land Matrix, a European land monitoring organization, has assessed that Chinese companies have in all gained control of 6.48 million hectares of land devoted to agriculture, forestry and mining around the world from 2011 to 2020. That figure dwarfs the combined 1.56 million hectares controlled by British companies, the 860,000 hectares held by American companies and the 420,000 hectares controlled by Japanese ones. It said Chinese businesses are rapidly acquiring land overseas to meet burgeoning domestic demand resulting from China's economic development. Acquiring land abroad gives these businesses stable access to natural resources as supplies tighten around the world.
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