China's Sovereign Wealth Fund: Developments and Policy Implications

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China's ruling executive body, the State Council, established the China Investment Corporation (CIC), a sovereign wealth fund, in September 2007 to invest $200 billion of China's then $1.4 trillion in foreign exchange reserves. Congress and financial analysts raised concerns about the CIC after its creation, partly because it was a comparatively large sovereign wealth fund, partly because it was government-owned, and partly because it reported directly to the State Council. These concerns raise question about U.S. policies on inward foreign direct investment (FDI) and the global competitiveness of U.S. financial institutions. Certain commentators suggest that more should be done to ... continued below

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13 pages

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Martin, Michael F. September 23, 2010.

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Description

China's ruling executive body, the State Council, established the China Investment Corporation (CIC), a sovereign wealth fund, in September 2007 to invest $200 billion of China's then $1.4 trillion in foreign exchange reserves. Congress and financial analysts raised concerns about the CIC after its creation, partly because it was a comparatively large sovereign wealth fund, partly because it was government-owned, and partly because it reported directly to the State Council. These concerns raise question about U.S. policies on inward foreign direct investment (FDI) and the global competitiveness of U.S. financial institutions. Certain commentators suggest that more should be done to protect the United States from China's rising role in international capital markets.

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13 pages

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Congressional Research Service Reports

The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1970's through the present--covering a variety of topics from agriculture to foreign policy to welfare.

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  • September 23, 2010

Added to The UNT Digital Library

  • Dec. 4, 2010, 2:26 p.m.

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  • Aug. 10, 2015, 7:31 p.m.

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Martin, Michael F. China's Sovereign Wealth Fund: Developments and Policy Implications, report, September 23, 2010; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc29612/: accessed May 29, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.