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Sovereign fund goes for exclusions

July 2008

China's $200billion (£100.8bn) sovereign wealth fund is to become a socially responsible global investor by shunning industries such as gambling, tobacco and arms manufacturing.

Gao Xiqing, president of China Investment Corp, told a conference in Beijing that his organization would look at 'everything cross-border except for casinos, tobacco companies or machinegun companies'. He said: 'We are looking at clean energy and environmentally friendly investment.'

However, it is reported that, as far as is publicly known, the fund has previously invested primarily in financial services.
 




China Investment Corp | Asia | SRI

Further Information
http://www.ft.com/cms/s/0/be5ac0e2-3971-11dd-90d7-0000779fd2ac.html
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