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The CIC and Being on Equal Footing in Europe

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Jin Liqun

In recent weeks, the China Investment Corporation (CIC) has been in the news headlines for its economic view on Europe and current investment activity in the region. It is well known over the past three decades, more importantly this last decade; China has accumulated vast foreign reserves. Created in 2007, the CIC was tasked to manage a portion of China’s financial resources.

Europe is in the midst of troubling economic times. The Chinese government has been supportive of Europe, but the real question is what will be their level of involvement in the European sovereign debt crisis? If China were to increase investment into Europe via sovereign bonds or other non-firm investments, then it must be convinced that Europe has changed.

The people in China are cognizant in where China invests and are keen for the Government of China to be a responsible commercial investor.

Europe is known for its welfare state mentality, but the world is rapidly changing and to pay for the welfare state, economies must grow by a certain percentage. Taxing and budget cuts are only short-term fixes, structural labor changes are a necessity. According to Jin Liqun, supervising chairman of the China Investment Corporation (CIC), some countries in Europe have “an incentive system totally out of whack.”[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Former FSDEA Chairman Arrested in Angola

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Jose Filomeno de Sousa dos Santos, the son of Angola’s former president and former chairman of the country’s sovereign wealth fund, has been placed under arrest, according to the state prosecutor’s office. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Keppel Land China Acquires Stake in Nanjing Jinsheng Real Estate Development

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On September 20, 2018, Keppel Land China, a subsidiary of Singapore-based Keppel Corporation, purchased a 40% stake in Nanjing Jinsheng Real Estate Development Co, a subsidiary of Gemdale Corporation. Keppel Land China did the deal through an entity called Eternal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Korea NPS Co-Invested in Delaware Basin Assets with Morgan Stanley

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The Delaware Basin is a geologic depositional and structural basin in West Texas and southern New Mexico. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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