12.12.2011 - China Central Bank to create $300 bln investment fund
China's central bank plans to create a new vehicle to manage investment funds worth a total of $300 billion (191 billion pounds) to improve returns on the world's largest stockpile of foreign exchange reserves. The fund will operate alongside the State Administration of Foreign Exchange (SAFE), and separately from China’s sovereign wealth fund; China Investment Corp (CIC). The vehicle, which was planned well before the start of Europe's debt crisis and is aimed at improving returns on China's foreign exchange reserves, would operate two funds, one targeting investments in the United States and the other focused on Europe, said the source, who asked not to be named because of the sensitivity of the matter...............................................Full Article: Source
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