19 10월, 13:42www.businesstimes.com.sg
Looking good: Valuations for property and infrastructure projects in Europe are currently at an attractive level, say sources. - PHOTO: BLOOMBERG
[BEIJING] China's agency that manages the nation's US$3.66 trillion of foreign exchange reserves is looking to make more investments in European property, two people familiar with the situation said.
The State Administration of Foreign Exchange, seeking to diversify the nation's investments, is looking at real estate and infrastructure projects with a focus on the UK, France, Germany, Poland and the Czech Republic, said the people, who asked not to be identified as they weren't authorised to speak publicly about the matter.
Valuations for such projects are currently at an attractive level, they said.
The agency is considering investing more of the world's biggest reserve stockpile in Europe while wrangling over the US government's borrowing limit raises the risk of a default in Treasury holdings that stood at US$1.28 trillion in July. China's Deputy Finance Minister Zhu Guangyao said on Tuesday that the US must take "concrete measures" this week on its debt.
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