 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
Beijing (AFP) May 23, 2011 China Investment Corp (CIC), the country's $300 billion sovereign wealth fund, is looking to Russia for investment opportunities, state media reported Monday. Russia "has big development potential given its vast market and rich resources," CIC chairman Lou Jiwei told the official Xinhua news agency in an interview during a trip to Moscow. "CIC is willing to invest in Russia," he said. The company sees Russia's planned direct investment fund and a new round of privatisation as two channels for possible investment in the country, Lou said. The direct investment fund, for which Moscow plans to raise $10 billion within five years, will look for projects in the country for foreign investors as a way to attract overseas capital, according to the report. Lou said CIC's potential Russian portfolio was likely to include stocks and bonds, commodities, infrastructure and real estate projects to diversify risks, the report said. CIC was set up in 2007 to invest some of China's massive foreign exchange reserves -- the world's largest at $3.045 trillion at the end of March -- partly to gain better returns. The reserves are mainly parked in safe but low-yielding instruments such as US Treasury bonds, but amid the global crisis CIC has tried to diversify its investments and be more aggressive to improve returns.
Share This Article With Planet Earth
Related Links Global Trade News
Oldest mine in Americas discoveredChicago (UPI) May 19, 2011 Archaeologists have discovered a 12,000-year-old iron oxide mine in Chile they say shows the oldest evidence of organized mining ever found in the Americas. Researchers from the Universidad de Chile found the 40-yard trench near the coastal town of Taltal in northern Chile. It was dug by the Huentelauquen people, the first settlers in the region, who used iron oxide as pigment fo ... read more |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
del.icio.us
Digg
Reddit
YahooMyWeb
Google
Facebook
