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China Wealth Fund Eyes Asia as Western Protectionism Rises

China Wealth Fund Eyes Asia as Western Protectionism Rises http://www.reuters.com/article/2012/11/11/us-china-congress-cic-idUSBRE8AA01120121111 Group members: 周武敬 林世仟 谷 鑫 杜银栋 2012/11/21.

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China Wealth Fund Eyes Asia as Western Protectionism Rises

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  1. China Wealth Fund Eyes Asia as Western Protectionism Rises http://www.reuters.com/article/2012/11/11/us-china-congress-cic-idUSBRE8AA01120121111 Group members: 周武敬 林世仟 谷 鑫 杜银栋 2012/11/21

  2. China's sovereign wealth fund will focus more of its $482 billion firepower on Asia in twin bids to beat a rise in protectionism in the West and boost exposure to rapid regional growth, chairman and chief executive Lou Jiwei said.

  3. There is a rise in protectionism in both trade and investment in some Western countries. As compared to other financial investors, the scrutiny on China is a little more strict. President Barack Obama took an action to block of a privately owned Chinese company close to a U.S. military site, and his challenge of Chinese auto and auto-parts subsidies. Canada has also twice delayed whether to allow a $15.1 billion bid by CNOOC Ltd

  4. NO WELCOME, NO INVESTMENT CICwould avoid investing in countries that do not welcome us. There are other places to invest. Asia is a particularly favored option for CIC, thanks to some of the fastest rates of growth and development in the world that levered China's own economic dynamism. CIC would have to do direct investment projects one by one. That is very time consuming and we cannot really deploy that much investment capital into it.

  5. Background • 中新社华盛顿9月28日电(记者 吴庆才)美国总统奥巴马28日签发行政命令，以威胁美国国家安全为由，阻止一家中资公司在美国俄勒冈州一军事基地附近兴建4个风电场。 • 　　这是美国总统22年来首次以安全为由阻止外资交易。前一次类似的情况是老布什总统于1990年下令禁止美国一家飞机制造公司出售给中资机构。 • 　　奥巴马在行政命令中称，有可信的证据让他相信，中国的“三一”集团及罗尔斯公司可能会采取“威胁或损害美国国家安全的行动”

  6. Background • 加拿大政府周五晚间表示，已推迟其对中国国有企业中国海洋石油有限公司(CNOOC Ltd. ,0883.HK, 简称：中国海洋石油)以151亿美元收购加拿大Nexen Inc. (NXY, NXY.T)交易审核的最终决定，把审核期限延长至下月。这样的延期并非罕见之举，由于加拿大总理斯蒂芬•哈珀(Stephen Harper)此前已表示，该国政府将对该交易作出决定，同时还将针对外国政府所有实体对加拿大的投资给出指导意见，因此延期已在外界的普遍预期之中。加 拿大政府对所有重大外国投资交易进行审核，以判定交易是否给加拿大经济带来净效益。 http://www.metalsinfo.com/finance/display.php?pid=58&news_id=124415

  7. Words and Expressions • CIC(China Investment Corporation)中国投资有限责任公司（简称中投公司；筹备期间被称为“国家外汇投资公司”），2007年9月29日在北京成立。它是经中华人民共和国国务院批准设立的国有大型投资公司。该公司的资金将来源于中国的国家外汇储备；成立初期的注册资本金为2000亿美元，是全球最大主权财富基金之一。 • CNOOC Ltd (China National Offshore Oil Company Limited ), 中国海洋石油总公司（简称“中海油” ）是中央特大型国有企业，也是中国最大的海上油气生产商。公司成立于1982年，注册资本949亿元人民币，总部设在北京。

  8. Words and Expressions • Protectionism 贸易保护主义，通常简称保护主义,是一种为了保护本国产业免受国外竞争压力而对进口产品设定极高关税、限定进口配额或其它减少进口额的经济政策。它与自由贸易模式正好相反，后者使进口产品免除关税，让外国的产品可以与国内市场接轨，而不使它们负担国内制造厂商背负的重税。

  9. Thank you！

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