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Chinese ownership has given new momentum to Italian tire maker Pirelli

Chinese bike-sharing company Ofo has no assets to pay off its debts, Beijing Youth Daily reported on Wednesday.

Chinese customer shops for a carton of Yili pure milk at a supermarket in Xuchang city, Central China's Hunan province, on Nov 16, 2014. [Photo/IC]

Chinese insurers have been actively seeking overseas financing to support their outbound mergers and acquisitions as financing costs have been lower than those on the domestic market. Many of them have chosen to use onshore assets as collateral for their overseas financing.

Chinese policymakers and companies should make concerted efforts to foster inclusive, sustainable industrial development, experts said on Wednesday.