China to Invest Currency Reserves in Japan
The state-owned investment fund—China Investment Corporation, will invest in Japan’s financial markets heavily.
As the dollar is losing its worth against all major currencies, China’s assets shrink on a daily basis, and the government has determined to use its investment fund—China Investment Corporation (CIC), to invest a large but undisclosed amount in foreign stocks. Japanese market was planned as the target.
With the recent financial turbulences in the globe, China has realized it may be a proper time to further invest billions of US dollars. The fund will “soon start investing in Japanese shares”, a CIC official reported. Some experts believe that the Chinese may have already bought stakes in some of Japan’s most renowned companies, like Toyota and Sony.
Moreover, the investment in foreign funds just begins from Japan. The CIC starts recruiting foreign financial specialists who will manage the cash market, fixed income, equity and hedge funds for its expansion in North American and Europe on its website.
The CIC international investment department will be located in Beijing.
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