- February 14, 2023
- Posted by: admin
- Category: Daily News
- Singapore sovereign wealth fund GIC said it continues to scout for long-term investment opportunities in China, looking at a wide range of industries, adding that it maintains significant exposure to large markets such as China.
- The statement comes after the Financial Times reported earlier in the day that GIC (GIC.UL) had put the brakes on private investments in the world’s second-biggest economy as it steps up scrutiny of risks.
- GIC also scaled back commitments to China-focused private equity and venture capital funds over the past year.
- While the overall investment environment in China saw a slowdown in deal-flow last year, GIC’s on-the-ground team continues to explore long term opportunities across many sectors due to a rising middle-class, an entrepreneurial private sector, as well as China’s decarbonisation efforts.
- In the year to Mar 22, the United States was GIC’s biggest market, making up 37% of its portfolio while Asia excluding Japan contributed 25%.
External Link : https://www.reuters.com/business/finance/singapores-gic-says-still-exploring-china-investment-opportunities-2023-02-14/