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BEIJING, Dec. 24 -- The Chinese government will boost financing support for Chinese companies investing and operating overseas, or "going global", an official statement showed Wednesday.

Better finance for those companies can make full use of China's excess production capacity and promote the cooperation with foreign companies, according to a statement released after a State Council executive meeting presided over by Premier Li Keqiang.

"The move will raise the international competitiveness of Chinese products, especially equipment products, boost structural upgrading of foreign trade and push manufacturing and financial sectors to a medium-high level," the document showed.