from South China Morning Post:
China’s sovereign wealth fund, which has more than US$480 billion in assets, could cut holdings of US Treasury Bonds as they are becoming a less attractive investment, state media said on Tuesday.
The Shanghai Securities News quoted Lou Jiwei, chairman of sovereign wealth fund manager China Investment Corporation (CIC), as telling a conference in Hong Kong on Monday that the US economic recovery had made other investments appealing.
China has the [...]
Last week we reported that European hedge fund managers were liquidating their European assets to reduce exposure. Now it appears that the lend-happy Chinese will be doing the same. This looks really bad for Europe as a whole as investors are steering clear of its volatility. BBC reports:
“China’s sovereign wealth fund, China Investment Corporation (CIC), has cut its European stock and bond investments on fears of a eurozone break-up.
In an interview [...]
AFP: The United States on Wednesday opened its banking market to ICBC, China’s biggest bank, for the first time clearing a takeover of a US bank by a Chinese state-controlled company.
Just days after high-level US-China economic talks in Beijing, the Federal Reserve approved an application from Industrial and Commercial Bank of China to buy a majority stake in the US subsidiary of Bank of East Asia.
The transaction will make [...]
By Chris Oliver
HONG KONG (MarketWatch) — China’s sovereign-wealth fund, China Investment Corp. (CIC), has received an additional $50 billion in funding from the central government, according to a report Tuesday in the Financial Times. The increase was disclosed in Beijing by CIC officials attending a forum, according to the report. The funding is a portion of the $100 billion-$200 billion sought by the CIC and likely represents an effort [...]
Chinese government says it will continue to help Europe in various ways, but says that Europe cannot rely on China to solve their debt problems or bail them out and expects Europe to do something about its own debts:
BEIJING – The China Investment Corporation (CIC), China’s sovereign wealth fund, has had a new injection of investment worth $30 billion from the Chinese government, the company’s vice-president Wang Jianxi told China [...]