Arab Today, arab today china wealth fund gets 30 bln injection
Last Updated : GMT 04:23:09
Arab Today, arab today
Arab Today, arab today

China wealth fund gets $30 bln injection

Arab Today, arab today

Arab Today, arab today China wealth fund gets $30 bln injection

Beijing - AFP

China\'s $410-billion sovereign wealth fund received a $30 billion injection from the government last year, boosting its investment war chest for European assets, state media said Monday. China Investment Corporation (CIC) was set up in 2007 to invest some of the country\'s world-beating foreign exchange reserves overseas. The fund received the additional capital from the State Administration of Foreign Exchange (SAFE) late last year, the China Daily quoted the fund\'s deputy general manager, Wang Jianxi, as saying. The money would be used to buy assets in debt-stricken European countries, Wang said. CIC \"in the short term would devote itself to investing in the region in an active way,\" he said. State media said last month that CIC had also received $50 billion from the central bank after the Chinese Lunar New Year holiday in January. The combined capital injections would increase the value of CIC\'s assets to $490 billion, based on the latest available figures. AFP calls to the wealth fund went unanswered and a spokesman for SAFE would not immediately respond to requests for comment. The capital injection comes as China\'s companies and funds increase investment overseas, especially in debt-laden European economies and resource-rich Latin America, due to growing competition at home. In January CIC bought 8.68 percent of British utility company Thames Water -- the largest water and sewage service provider in the country -- through a wholly-owned subsidiary.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china wealth fund gets 30 bln injection Arab Today, arab today china wealth fund gets 30 bln injection

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china wealth fund gets 30 bln injection Arab Today, arab today china wealth fund gets 30 bln injection

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday