Media reports that China Investment Corporation (CIC) has arranged a new North American person in charge of the New York Office, filling the vacancies for several months.This shows that despite Sino -US relations, the China Movement Fund Fund still hopes to maintain its New York office and maintain investment in US assets.
Reuters quoted sources that Bai Xiaoqing, the director of the International Private Equity Department, moved to New York to serve as the head of North American business and replaced Zhang Hong who left China Investment at the end of last year.Zhang Hong returned to China after 6 years of his position. After Zhang Hong left, this position has been vacant for several months.
According to the website information of the Milken Research Institute, Bai Xiaoqing joined the CIC in 2007 and worked in the Ministry of Finance for more than 12 years.
China Investment Management Management of US $ 1.35 trillion (the same below, S $ 1.84 trillion), its New York office, is the only offices outside the Hong Kong office and outside China.According to CICC's website, CIC's New York work was officially opened in 2017, which aims to help CIC management invest in US assets.
Reuters reports that Washington has always crack down on many Chinese investment it thinks of national security risks.
The US Foreign Investment Commission is responsible for reviewing transactions involving national security. The committee has been preventing Chinese investment, thinking that these investment may weaken US technological advantages or endanger data security.
According to data from the American Enterprise Institute, China's investment has fallen from the peak of US $ 53.5 billion in the total amount of $ 53.5 billion in 2016 to only three total of only $ 400 million in this year.trade.
But China ’s investment in the United States is still large.The 2021 China Investment Annual Report showed that China Investment's stock investment accounted for 35% of the total investment portfolio, of which US stocks accounted for 61.48%.CIC is also an important investor in the US Private Equity Fund. He has invested in a $ 2.5 billion private equity fund under Goldman Sachs Group.
