Zhou Yuan, head of asset allocation at China Investment Corp., the country’s sovereign wealth fund, said US infrastructure spending plans are “too little, too late,” Bloomberg reported. Zhou – whose principal concern is low interest rates in the US – said the proposed infrastructure spending of about US$500 billion over six years should be doubled, […]
Category: Investment
Corporate research and development spending in 2009 declined in most Western countries but increased 40% in China, AP reported, citing data released by the European Union on Tuesday. Research spending by European companies fell 2.6% as their sales declined 10.1%. In the US, research spending by firms decreased 5.1%. Japan and other Asian countries maintained high […]
US insurance conglomerate AIG (AIG.NYSE) raised approximately US$17.8 billion from the initial public offering of its Asian unit, AIA Group, in Hong Kong, Bloomberg reported, citing a person close to the situation. AIG sold 5.86 billion existing shares in AIA at HK$19.68 each, the top end of the indicative range. AIG also has an option […]
China’s US$10 billion private equity fund targeting Southeast Asian economies has raised US$1 billion in its first round of fund raising and is expected to make its first investment by the end of the year, state media reported. The Export-Import Bank of China (Exim Bank) and China Investment Bank jointly launched the fund in April […]
China Life (2628.HK), Taikang Life, China Investment Corp. (CIC) and Ping An Insurance Group (2318.HK) are among the mainland institutional investors looking to pick up substantial stakes in AIA, the Asian business arm of US insurance conglomerate AIG (AIG.NYSE), the Financial Times reported, quoting sources familiar with AIG’s US$20 billion initial public offering this month. CIC, the […]