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Good news for listed co. in SGX with at least 50% revenue derived in China will qualify for this fund. STI will shoot up like HSI (HK) if just a small % of this USD200B comes here.
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Business Times - 29 Sep 2007 China launches state investment company to manage forex BEIJING - China on Saturday launched its long-awaited state investment company which is intended to manage around US$200 billion of its massive foreign exchange reserves. The China Investment Company will be headed by Lou Jiwei, a former vice finance minister. China's reserves, the world's largest, surpassed US$1.33 trillion at the end of June, with about 70 per cent generally believed to be held in US dollar denominated paper, principally US government bonds. The new agency, tasked with diversifying and maximising returns on part of the country's huge forex reserves, already invested US$3 billion of foreign exchange reserves in US private equity group Blackstone in May despite not yet being formally launched. -- AFP Copyright © 2007 Singapore Press Holdings Ltd. All rights reserved. |