China Southern invests in overseas equities

Investment management company China Southern Fund Management raised US$6.6 billion for an overseas equity fund Wednesday, becoming the country's first fund to invest in overseas equities, the Financial Times
reported. The fund is part of government plans for Chinese investors to
put money into international markets. Analysts predict individual overseas investments for mainland Chinese could total in the hundreds of billions of
US dollars over the next decade. The fund will invest in Hong Kong and US markets, then expand. "This is the first real sign of Chinese retail demand for foreign assets. But there will
be much, much more to come," said Peter Alexander at Z-Ben Advisors, a
fund management consultancy in Shanghai.