Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

China CIC: euro zone can calm mkts if unified on Greece

Published 05/06/2010, 03:57 AM
Updated 05/06/2010, 04:00 AM

SYDNEY, May 6 (Reuters) - The chairman of China Investment Corp. (CIC), China's $300 billion sovereign wealth fund, said on Thursday euro zone nations can calm markets if unified over Greece.

"This is a very tough time for the euroland and also for the euro. But I also have seen some strong indications of the support for the countries in trouble," Jin Liqun, supervisory board chairman of CIC, told Reuters.

"If the euro members were to work together, I would say they can at least help calm down the people who are worried," he added, while attending a meeting of the world's sovereign wealth funds.

CIC was set up in September 2007, with the aim of seeking higher returns for part of the country's massive stockpile of foreign exchange reserves, which stood at $2.39 trillion at the end of 2009. (Reporting by Koh Gui Qing; Editing by Ed Davies)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.