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By Juliana Liu Business reporter, BBC News, New York November 1, 2010
http://www.bbc.co.uk/news/business-11671004
CIC is calling on the US to invest in its transport links
China's sovereign wealth fund has urged the Obama administration to spend $1tn (£624bn) on infrastructure over the next five years, to create jobs and improve American competitiveness.
Zhou Yuan, head of asset allocation at China Investment Corporation (CIC), said Beijing would be willing to invest in such projects. CIC manages part of China's massive foreign exchange reserves. It manages an estimated $300bn in both domestic and overseas investments.
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By Lingling Wei And Dinny McMahon
31 October 2010
The Wall Street Journal (Online and Print)
Copyright 2010 Dow Jones & Company, Inc. All Rights Reserved.
Industrial & Commercial Bank of China Ltd., China's largest lender, is venturing into the broker-dealer business in the U.S., one of the most telling new signs of the rise of Chinese financial institutions in the world economy.
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2010-10-31 16:01:00.0 GMT
By Lu Wang
Nov. 1 (Bloomberg) -- U.S. infrastructure-spending plans are “too little, too late” and should be increased in preference to quantitative easing, said Zhou Yuan, head of asset allocation at China’s $300 billion sovereign wealth fund.
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2010-11-01 04:01:00.8 GMT
By Lu Wang
Nov. 1 (Bloomberg) -- Investors should dump their holdings in U.S. Treasuries as interest rates are due for a rebound, while buying technology shares and emerging-market stocks, Blackstone Group LP’s Byron Wien said.
“We’re getting away with murder in the U.S. with these low rates,” Wien said in an interview on Oct. 30 in New York while attending a conference hosted by The Chinese Finance Association. “You don’t want to hold long-term Treasuries because if rates go up, you could lose money.”
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The Chinese Finance Association (TCFA, www.tcfaglobal.org) hosted its 16th annual conference on October 30, 2010 in New York City. This conference attracted more than 840 attendees, including our members from the New York, Boston, Chicago, San Francisco and Washington DC chapters and other regions in the U.S.
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