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China Investment Firm Makes First Allocation?

Reports in China suggest that the country’s fledgling investment company (see Squawkbox March 5 and 19) has started to allocate funds. The China Business Daily reports that the firm has placed $3 billion of the country’s huge foreign exchange reserves with US-based Blackstone Group.


The report cites sources as saying the new agency, which could manage up to $400 billion, has handed the funds to Blackstone through Central Huijin, the investment arm of China‘s central bank.


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