| From Theasset.com: China's sovereign wealth fund, China Investment Corporation (CIC), will tap the domestic debt market in a 80 billion renminbi (USD11.7 billion) borrowing that will enable two semi-policy banks, China Export-Import Bank of China (China Eximbank) and China Export Credit Insurance Corp (Sinosure), to clear up some of the bad loans on their balance sheets.
Central Huijin, the domestic financial investment arm of CIC, will issue the so-called bonds in the interbank market before on-lending the proceeds in CIC’s latest attempt to square the financing circle that represents Beijing’s control of its various financing departments.......................................Full Article: Source
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