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Central Huijin Invests 20 Billion Yuan in China Export and Credit Insurance Corp

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Export credit financing is one instrument used by governments to support domestic exporters. In China, export financing and insurance are directed through three organizations, China’s Eximbank, the China Development Bank (CDB), and the China Export & Credit Insurance Corporation (Sinosure).

China has poured hundreds of billions in the last few years to achieve an aggressive model of export credit financing, far superior in terms of capital than the United States.

Central Huijin Investment Co invested 20 billion yuan in China Export & Credit Insurance Corporation (Sinosure). This move was to assist Chinese companies in furthering their exports and investing overseas.

Sinosure is a state-owned enterprise that provides credit insurance services for exporters and other organizations. Sinosure began its operations on December 18, 2001. The organization provides export credit insurance against risks of non-payment. Sinosure offers coverage against commercial risks and political risks.

SWFI First Read, September 19, 2018

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QIA Eyes Investment in Chinese Lender Lufax

The Qatar Investment Authority (QIA) is in talks about a possible investment into Shanghai-based Lufax, one of China’s largest online lenders. The seller of the possible stake is China’s Ping An Insurance (Group) Co. Ltd. Lufax’s official name is Shanghai Lujiazui International Financial Asset Exchange Co. Ltd.

Wealth Funds Back Hotpot Giant

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Japanese Government Capital Provides Initial Life for Texas Bullet Train

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Dallas-based Texas Central Partners, LLC is the developer of a proposed high-speed rail system, dubbed the Texas Bullet Train, between Dallas and Houston. Project costs are estimated between US$ 12 billion to US$ 15 billion. The developer secured US$ 300 million in project loans from Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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