The Asahi Shimbun interviewed Gao Xiqing, president of the China Investment Corp., a Chinese sovereign wealth fund at the vanguard of such activity. The CIC manages a portfolio of $400 billion (about 32 trillion yen).
One reason the CIC was created is to diversify options for investing China’s foreign currency reserves, most of which are denominated in dollars. In 2010, we had more than 40 percent of our overseas investments in North America, 30 percent in Asia, over 20 percent in Europe, 5 percent in Latin America and 1 percent in Africa………………………………………..Full Article: Source