Investment
Return of the king
July 2008: China supposedly modeled its sovereign wealth fund after Singapore's, but has it actually done so?
After months of rumors, news of a Chinese sovereign wealth fund was finally confirmed in March 2007. Making his address to the National People’s Congress, Finance Minister Jin Renqing said an agency would be formed to invest part of China’s growing stockpile of foreign currency reserves.
The announcement also confirmed another rumor making its rounds: That China would base its new agency on one run by the Singapore government.
“We will draw upon t...
The announcement also confirmed another rumor making its rounds: That China would base its new agency on one run by the Singapore government.
“We will draw upon t...
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