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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

SAFE suffers floating loss from H1 Bank Investments

Posted on 06 September 2013

China SAFE Investments Ltd. suffered a floating loss of about CNY 200 million from investment in five domestic commercial banks in the first half of this year. As a wholly-owned subsidiary of sovereign wealth fund China Investment Corp. (CIC), it acquired a total of 568 million shares of Industrial and Commercial Bank of China, and Bank of China, China Construction Bank, and Agricultural Bank of China Ltd. in the six months.
In addition, it acquired about 2.06 million shares of China Everbright Bank Co., Ltd., the banking unit of conglomerate China Everbright Group………………………………………..Full Article: Source


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