Chinese companies buying up 'strategic' pieces of land worldwide: Report

Reports have claimed that Chinese companies are looking to buy up "strategic" pieces of land around the world close to US military installations including around key sea lanes and straits.

A report in the Financial Times of London said that some of these companies may be linked to the Chinese government, while others appeared "genuine examples of private sector entrepreneurship".

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The report cited the case of Solomon Islands where Chinese companies had gained a foothold even before the country switched recognition from Taiwan to Beijing in 2019 with "similar patterns" witnessed in Central America and the Caribbean.

The report said Chinese investors in the Philippines in collaboration with a mainland real estate company sought to build a "smart city" in Fuga island along the strategically important Luzon Strait close to Taiwan.

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However, the move prompted an investigation as the Philippines government made plans to build its own naval base in the island.

The report claimed little known Chinese companies with small shareholders were being roped in for the initiative with some having close links to China's security forces and government agencies.

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The Financial Times report claimed some ethnic Chinese living abroad were also being "pulled" into Beijing's plans.

A report in Japanese media had claimed earlier that China may be eyeing food and natural resources in emerging and developing countries.

(With inputs from Agencies)