China Investment Corp., the country's $300 billion sovereign-wealth fund, has requested more investment from the central government as it has already used up its current pool of money, a senior CIC official said Saturday.
"There's no more money for new investment," Wang Jianxi, executive vice president of the CIC, said on the sidelines of a forum in Beijing.
The Endless Bid
The bid in the market for the past few months seems to be insatiable. Today, we received news that the Chinese have finally fully invested their $300 billion sovereign wealth fund. They have been trying to invest this money for years but were making very slow progress. I was quite shocked to read that they were now done. This might explain some of the recent action as its difficult to invest that type of money without effecting markets. From the Wall Street Journal: