China’s US$410 billion sovereign wealth fund plans to begin investing in dilapidated infrastructure in Western countries, beginning with the UK, the Financial Times reported, quoting fund chairman Lou Jiwei. The British governmment is looking to both UK pension funds and sovereign wealth funds in the Middle East and Asia to help fund a proposed US$46.48 billion in improvements in its roads, railways, ports and social housing. One project attracting interest in Beijing is a proposed high-speed rail link between London and the north of England. “We at [China Investment Corporation] believe that such an investment, guided by commercial principles, offers the chance of a ‘win-win’ solution for all,” Lou wrote in an opinion piece in UK paper. Many officials and academics within China have been pushing for a diversification of the country’s foreign exchange reserves into real overseas assets, including infrastructure.