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profits. Only by doing this can we make a success as well Football Jerseys ," Leung said.
In recent years, M&As by Chinese companies overseas have boomed but the results have not always been good.
According to the Ministry of Commerce, direct investment abroad in the non-financial sectors amounted to $59 billion in 2010, a year-on-year increase of 36.3 percent. It involved 3,125 foreign enterprises in 129 nations and regions.
In the past two decades, 67 percent of overseas M&As by Chinese companies ended in failure, a study by global management consulting firm McKinsey & Co shows.
Experts said the reasons are mainly inadequate analysis of the industry chainCheap NHL Jerseys Adds details, incorrect market trend forecast Football Jerseys , excessively high self-evaluations and lack of understanding of the local law and tax environment.
"In this area Football Jerseys , Blackstone can take a bigger role," Leung said.
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Company says local partners, R&D will be instrumental to growth
BEIJING - China is expected to become the second- or third-largest market for international drugmaker Bristol-Myers Squibb's (BMS) within a decade.
The country is currently the eighth-largest market for the company and is expected to become the sixth-largest by next year.
The target will be achieved by collaborating with local partners and doubling research and development (R&D) staff within two years Football Jerseys , senior executives of the US-based biopharmaceutical company said on Thursday.
The cooperation with local partners is under BMS' global "String of Pearls" strategy, the purpose of which is to increase the company's R&D capabilities through transactions in which it can obtain a compound, a pipeline or an entire company.
So far, it has made 11 such deals, the latest being the development and commercialization of a cancer drug in cooperation with the French company Innate Pharma SA with $465 million of investment.