Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

China to Use $10 Billion for Investment Entity, Reuters Reports

May 9 (Bloomberg) -- China’s central bank plans to provide $10 billion for a new entity that will help state-owned companies make investments abroad, Reuters reported, citing four unidentified people with direct knowledge of the matter.

The People’s Bank of China is in discussions with China Reform Holdings Corp., a government entity controlled by the State-owned Assets Supervision and Administration Commission, to set up a joint venture, the news service said today on its website.

China has accumulated $3.3 trillion in foreign-exchange reserves, the most in the world, boosted by trade gains. The second-largest economy has pledged to invest in Europe’s bailout funds and sustain holdings of euro assets.

China Investment Corp., the nation’s sovereign wealth fund, received $30 billion of capital from the State Administration of Foreign Exchange by the end of last year, Executive Vice President Jesse Wang said in March.

Chairman Lou Jiwei said earlier this year the sovereign fund had received additional capital after having invested almost all its cash in 2010. CIC was set up in 2007 with $200 billion from the Ministry of Finance. It had $410 billion of assets at the end of 2010.

The central bank’s press office didn’t pick up phone calls placed by Bloomberg News outside of regular business hours.

To contact Bloomberg News staff for this story: Scott Lanman in Beijing at

To contact the editor responsible for this story: Paul Panckhurst at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.