State investments set to expand globally
17 October 2007
China will begin to invest Chinese capital in all foreign markets, except those that make settlement in Chinese currency, said Lou Jiwei, chairman of China Investment Corporation (CIC) at a press conference during this week's National Party Congress, state media reported. The state-run sovereign investment fund was established in September to earn better returns on China's US$1.43 trillion in foreign exchange reserves. Lou said the fund plans to collaborate with foreign corporations and financial institutions in order to expand its current US$1.43 trillion in foreign exchange reserves.
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