China's $410-billion sovereign wealth fund has received a $50 billion capital injection from the central bank, state media said Friday, as the Asian powerhouse ramps up investment overseas. China Investment Corporation (CIC) was set up in 2007 to invest some of the country's world-beating foreign exchange reserves to get better returns. The sovereign wealth fund received the money from the People's Bank of China after the Chinese Lunar New Year holiday in January, financial news website Caixin said, citing unidentified sources. The capital injection increases the value of CIC's assets to $460 billion, based on the latest available figures. AFP calls to the wealth fund went unanswered and a spokesman for the central bank declined to 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, as growing competition at home forces them abroad.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor