China Investment Corporation, the nation’s sovereign wealth fund, is seeking permission to invest in domestic securities, sources told Bloomberg, as Chinese markets fall to near-four-year lows.
Pending approval from Beijing, CIC’s involvement in domestic markets could provide a much-needed boost to China’s struggling financial markets, which entered bear market territory in recent weeks as economic threats from rising defaults and a US-China trade war have shaken investors’ confidence.
The $941 billion fund recently posted record returns for 2017 from its overseas portfolio. The head of CIC’s asset allocation, Fan Hua, said during a public forum last month that Chinese shares and yuan-denominated bonds could provide the fund with “very good opportunities.”
You must log in to post a comment.