Is expanded investment in forest assets by Chinese state-owned companies an opportunity for or a threat to TIMOs6 involved in international forestry? While some TIMOs may find themselves bidding for assets in competition with Chinese firms, we note that the other owner of Wenita (38%) is the US-based TIMO GMO Renewable Resources. And we know that other TIMOs have been having conversations with Chinese firms to discuss possible collaboration. Whether Chinese state-owned companies will choose to work with established forest asset managers, or try to invest directly, will likely depend on the particular projects, whether processing facilities are to be included, history of the enterprise, and so on. But we have little doubt that Chinese capital will be playing an increasing role in the international timberland investment markets in the next several years. This will add an interesting dynamic to the timberland markets, as Chinese firms are not known for spending much time or money in carefully dissecting potential investments with Western style analysis. Their preferred strategy of "shoot first, aim later" will no doubt lead to a few more failures, but will also lead to some more positive results, especially for those Chinese companies who pair up with the right partners in the right locations.