China

Bye-bye, US bonds? China’s sovereign wealth fund trims overseas equities, bonds amid ‘stresses and challenges’




China’s US$1.2 trillion sovereign wealth fund cut its holding of overseas equities and bonds last year while raising the proportion of alternative assets and cash, in light of the fast-changing external environment, according to its annual report released on Friday afternoon.Peng Chun, chairman of the China Investment Corporation (CIC), also explicitly expressed the need to develop “new modalities for outbound investments” by leveraging its geographical advantages – hinting that it may increase…



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