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China $214 Billion Fund Manager Looks to Boost Overseas Inflows

With assistance by Charlie Zhu, Evelyn Yu, Mengchen Lu, and Dingmin Zhang   One of China’s largest asset managers is targeting to almost double the foreign cash it oversees as the nation’s economic rise and financial opening increase demand.   China Asset Management Co. will seek to grow such assets to at least $10 billion over the next few years, up from about $6 billion, Richard Pan, head of Global Capital Investment at the Beijing-based firm, said in an interview. Its assets under the Qualified Foreign Institutional Investor plan -- a program that allows foreigners to invest in China -- have...

Foreign Investors Pile Back Into Booming China

By Thomas Hale   Beijing says the country is a ‘safe harbor’ after its rapid recovery from the pandemic   Ivanhoé Cambridge, a group that invests in international property on behalf of the Quebec state pension system, had already put $2bn into China’s logistics sector over the past few years. In June, as coronavirus was raging across the world, it decided to add another $400m to the total. “We’ve certainly been trying to increase our exposure to logistics in China as quickly and as responsibly as we can,” said George Agethen, senior vice-president, Asia Pacific, at the Canadian company, who points...

China Eases Rules, Widens US$222 Billion Inbound Investment Path, Offering the Renminbi as a Safe Haven Against Global Volatility

By Zhang Shidong   China’s yuan-denominated assets will get a fresh catalyst this month from some policy measures to give foreign stock and bond managers' wider access to the capital markets. That also means exposure to the second-best Asian currency in the past 12 months.   The central bank and market regulators have streamlined approval procedures for its inbound investment schemes, known by their QFII and RQFII acronyms, from November 1. They will also let foreign investors access a wider array of assets such as over-the-counter stocks, financial and commodity futures, and hedge funds, among others.   First announced in September, authorities will...

Dual-circulation Strategy Becomes New Road Map of Growth

By Wei Jianguo   The fifth plenary session of the 19th Communist Party of China (CPC) Central Committee, which began on Monday in Beijing, has attracted global attention.    As the world experiences a once-in-a-century shake-up caused by the COVID-19 pandemic and the headwind of anti-globalization, the achievements of China's 13th Five-Year Plan (2016-20), its proposals for formulating the 14th Five-Year Plan (2021-25), and China's long-term goals through 2035 are being closely watched.   This year marks several key milestones for China. It is the final year of the current 13th Five-Year Plan and the eve of the 100th anniversary...

Restarting Economic Growth: Where Asian Economies, IFCs Combine

By Elise Donovan   The way in which Asia’s economies, and the international financial centres they interact with, are able to re-start global growth and help other economies recover from the ravages of COVID-19, is an important topic. Learning from Asia’s experience of handling SARS and other outbreaks, and the region's rapid growth prior to the pandemic will be crucial to our understanding of how quickly global progress can happen. The role of IFCs in channelling funds to those who are able to invest in them for the strongest returns is also important - and often not given enough credit in...

Ping An Overseas Holdings Raised Funds of USD875 Million for Overseas Private Equity Investing

By Ping An Insurance   The two funds combined received a total capital commitment of USD875 million from a group of global investors, anchored by GIC and Switzerland-based Montana Capital Partners. Ping An Overseas Holdings is also a Limited Partner in the Funds alongside other investors.   The Funds represent Ping An Overseas Holdings' first dedicated investment program focusing on overseas private equity investing. The Selection Fund operates a fund of funds program that was invested by Ping An into a well-diversified portfolio of top-tier buyout managers in North America and Europe and was transferred as part of a secondary transaction. The Global Equity Fund is set up to capture...

China Reports Surge in Long-Term Investment Inflows Despite Talk of Decoupling from the US

By Zhou Xin   Foreign direct investment (FDI) inflows into China surged in September by nearly a quarter compared to a year ago, underlining the confidence international investors have in the world’s second-biggest economy long-term prospects, despite threats of decoupling from the United States.   FDI inflows into China rose 23.7 percent to US$14.25 billion last month, according to data released by the Ministry of Commerce on Friday. The growth marked an acceleration from August when China’s FDI recorded year-on-year growth of 15 percent.   Total FDI inflows into China in the first nine months amounted to US$103 billion, an...

Amundi Expands in China as Beijing Further Opens Up Asset Management

By Thomson Reuters   SHANGHAI (Reuters) - Amundi, Europe's largest asset manager, launched a wealth management venture in Shanghai on Wednesday and plans to set up an outbound investment business in Beijing as China opens its doors wider to global asset managers.   The French company, which already owns a mutual fund venture in China, is capitalizing on a new round of financial opening by Beijing that also galvanized other global asset managers such as BlackRock.   "You don't have a single market in the world where you see global asset managers are positioning themselves so proactively, and so resourcefully," said...