Operating in an inharmonious world: China Investment Corporation

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Title Operating in an inharmonious world: China Investment Corporation
Author Liew, Leong H; He, Liping
Journal Name Journal of the Asia Pacific Economy
Year Published 2012
Place of publication United Kingdom
Publisher Routledge
Abstract This paper investigates the establishment and subsequent investment strategy of China’s official sovereign wealth fund, the China Investment Corporation (CIC). CIC, as its stands today, is derivative of the contest between the People’s Bank of China and Ministry of Finance for control over the nation’s financial assets. The contest takes place amidst China’s desire to avoid significant appreciation of its currency to protect its export markets and yuan value of its state-owned foreign financial assets. But investments of CIC are not merely regarded by the state as an instrument to influence the value of the yuan, they also reflect the state’s attempt to better utilize its foreign exchange reserves to improve the nation’s energy and resource security, and promote development of domestic industry. CIC’s foreign investments have attracted global attention, but its support for China’s SOEs through its banks might turn out to be more significant.
Peer Reviewed Yes
Published Yes
Alternative URI http://dx.doi.org/10.1080/13547860.2012.668027
Volume 17
Issue Number 2
Page from 253
Page to 267
ISSN 1354-7860
Date Accessioned 2012-09-20
Language en_US
Faculty Griffith Business School
Subject PRE2009-Comparative Government and Politics; PRE2009-Political Economy
URI http://hdl.handle.net/10072/47774
Publication Type Journal Articles (Refereed Article)
Publication Type Code c1

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