Deals
China Sovereign Fund Prepares Request to Invest at Home
- $941 billion SWF would need government approval for change
- Senior CIC executive cited ‘good opportunities’ in China
Photographer: Johannes Eisele/AFP via Getty Images
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China’s $941 billion sovereign wealth fund wants permission to invest in domestic stocks and bonds for the first time, people with knowledge of the matter said, as it tries to end restrictions on its mandate following government moves to open up financial markets.
China Investment Corp. has laid the groundwork for an application to the central government to let it invest in domestic capital markets, the people said, declining to be named as the deliberations are confidential. It isn’t clear whether CIC has submitted the request or whether authorities would grant approval, they said.