People's Bank of China buys stake in BG
(Reuters)
Updated: 2007-08-01 16:38
Updated: 2007-08-01 16:38
Chinese banks, fund managers and insurance companies have also recently received permission to make overseas equity portfolio investments.
Eurasia said the stake in BG was in line with what it sees as the main task of the embryonic CIC: making strategic investments to help the government achieve its broader development goals.
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Among the most important of these are obtaining managerial and technological expertise in banking and acquiring advanced technology to transform traditional industry, especially those that improve energy efficiency or reduce emissions, Eurasia said.
Other objectives are to assimilate technology to help build up government-identified priority sectors such as aerospace, shipbuilding, biotechnology, new/renewable energy and high-technology services, it added.
"Finally, and topping the list, is securing natural resources," its report said.
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