CIC chief outlines China’s global investment strategy

CIC chief outlines China’s global investment strategy
News from Taipei Times:

China’s sovereign wealth fund will focus more of its US$ 482 billion firepower on Asia in twin bids to beat a rise in protectionism in the West and boost exposure to rapid regional growth, chairman and chief executive Lou Jiwei (樓繼偉) said.

The man charged with stewardship of a slice of the world’s largest store of foreign wealth lauded the British approach to overseas investment in public sector projects as one for the world to follow and said the policy response to Europe’s debt crisis was a reason to stay underweight bonds and stocks there.

“There is a rise in protectionism in both trade and investment in some Western countries,” the China Investment Corp (CIC, 中國投資公司) chief, speaking on the sidelines of the Chinese Communist Party Congress to choose a new leadership lineup, told reporters in a rare interview.

“As compared to other financial investors, we feel that the scrutiny on us is a little more strict because of issues like national security,” Lou said, adding that while not a major issue yet, he detected rising concern among foreign regulators when CIC partnered with Chinese firms to make acquisitions.

Tensions between Beijing and Washington have recently ratcheted higher thanks to a series of trade actions against China by US President Barack Obama, including his blocking of a privately owned Chinese company from building wind turbi…………… continues on Taipei Times

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