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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Market

CIC has no intention to buy European bonds

Posted on 27 September 2011

China Investment Corporation (CIC), the country’s sovereign wealth fund, needs to protect its own interests first and has no intention to buy European bonds, the fund’s general manager said over the weekend, Caixin.com reported Monday.
“You all heard that our premier said China is willing to support Europe,” Gao Xiqing said, speaking at an annual meeting of the International Monetary Fund in Washington, D.C. “But as a company, CIC’s mandate from the government is to maintain a certain amount of profit. We cannot just go to Europe and save someone; we need to protect ourselves.”………………………………………Full Article: Source


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