CIC chief feels 'unwelcome' in Europe
1 February 2008
China Investment Corp (CIC) chairman Lou Jiwei said he wouldn't invest in some European countries because he felt "extremely unwelcome" there, the Wall Street Journal reported. Lou outlined broad strategies for future the Chinese sovereign wealth fund's investments during a talk at the World Bank in Washington, saying that CIC would focus on "portfolios" of companies rather than individual companies, though he did not explain if this meant investing in vehicles like mutual funds or spreading investments across different sectors. Both French President Nicholas Sarkozy and German Chancellor Angela Merkel have voiced concerns on allowing CIC to invest in their respective countries.
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