15.09.2011 - Beijing is no white knight
The main player behind it is the China Investment Corporation (CIC), Beijing's sovereign wealth fund. The CIC's resources still come from the same source, the monetary reserves of the central bank. But it is the CIC, with its greater freedom of action and more diverse functions, that is spearheading the penetration of China into the global economy. Its status gives it a “market orientation and purely economic-financial goals”. As a company, the CIC is accountable to its shareholders – which would be the government in Beijing..............................................Full Article: Source
Print