| In early September, Li Jiange, the vice-chairman of Central Huijin Investment, said something rather puzzling while speaking at a banking conference in Germany. “When we invest in China, efficiency and investment return has gone down,” he said, through a translator. “If we can then expand abroad, then we are highly interested in looking into European banks.”
It may not sound much, but it was an important statement. Central Huijin is a unit of China’s $653bn sovereign wealth fund, China Investment Corp. CIC is powerful but opaque. Outside asset managers find its inner workings and objectives difficult to fathom.........................................Full Article: Source
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