24.01.2012 - New year, new investment: CIC makes a head start
China’s sovereign wealth fund’s move last week to invest in London water supplier Thames Water puts focus on potential overseas investment in the year of Dragon from China’s central bank PBOC, which plans to create a $300 billion vehicle to invest in Europe and the United States. After Reuters reported on the plan in December, the PBOC and State Administration of Foreign Exchange (SAFE), which manages reserves, have been mum. A tiny drop in the country’s reserves, still standing at $3.18 trillion, brings only a small comfort to the world’s largest reserve holder as it struggles with low returns on its sovereign debt portfolios in U.S. Treasuries (earning almost nothing) and euro zone sovereign debt (under growing risk of further ratings downgrades)...............................................Full Article: Source
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