How do you spend $1,810bn? That is the question facing China's State Administration of Foreign Exchange. The world's largest investment fund, it has grown by $400bn this year alone. Having reserves far in excess of what it needed for insurance and currency interventions, it rightly decided to diversify and set up the China Investment Corporation, the country's $200bn sovereign wealth fund. As the Financial Times reveals today, however, Safe itself has been investing abroad. Its foreign equity positions are greater than those of CIC. This raises questions for the developed world and China.
外管局行事更为隐秘,掌控的资金也远远超过中投。考虑到manbetx3.0 外汇储备快速增加,可能很快就会超过其它所有国家的主权基金总额。然而,虽然外管局一直煞费苦心的保持缄默,但似乎迄今仅收购了多家西方企业的一小部分股权。而且,没有迹象表明外管局已投资于任何高度敏感或具有战略重要性的资产。