| From WSJ: One area where China recently has held back: investments in Western banks. Its banks made an initial push abroad in 2007, but the deals soured. Among them: Sovereign wealth fund China Investment Corp. bought multibillion-dollar stakes in Morgan Stanley and Blackstone Group LP, while China Development Bank agreed to invest billions in British bank Barclays PLC.
With foreign-exchange reserves that have grown to $2.85 trillion, a large proportion of which is invested in U.S. Treasury bonds, China is seeking to diversify its assets. Its companies have been on a global investment binge in recent years, snapping up everything from real estate to mining companies to premier global brands like Volvo— even a 7% stake in Club Med...........................................Full Article: Source
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