Goldman says investors are looking for 'profitable' Chinese business growth overseas

BEIJING — Equity investors are skeptical of Chinese companies' rapid expansion overseas, according to Goldman Sachs. The "market wants to look for profitable expansions," Trina Chen, co-head of Greater China equity research at Goldman Sachs Research, said on a podcast that the investment bank published Tuesday. Sluggish consumer demand in China has pushed many companies, such as electric car brands, to accelerate plans for entering other countries. Automaker Geely is one of the latest Chinese companies to push further abroad, announcing Friday it plans to enter Canada next year . Chinese companies' overseas market share will likely reach 31% by 2035, up from around 18%, Chen and her team predicted in a Sept. 14 report.