IFC to double China portfolio
22 September 2004
International Finance Corp, the World Bank's investment unit, said it would nearly double the percentage of mainland investments in its portfolio. China assets stood at 4.5% in June and could rise to 6% in 2005. The IFC has invested about US$385 million in Mainland China, which accounts for nearly half of the company's East Asia and Pacific investments. An IFC official said two-thirds of mainland money is invested in the industrial sector, the balance in financial services and investment funds. The IFC, he said, would next be looking at opportunities in China's construction sector.