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CIC to halt investment in western banks
Published on: 2008-12-05
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The chairman of China Investment Corporation (CIC) Lou Jiwei said on Wednesday that China had no plans for further investments in Western financial institutions, The New York Times reported. After taking heavy losses on initial investments in the Blackstone Group, Morgan Stanley and Barclays, state-run institutions have no appetite for further purchases in this sector. Lou said CIC may aim at emerging markets.
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