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Singapore
GIC says to explore China market
Reuters
23
Feb
08
http://www.reuters.com/article/companyNews/idUSPEK916220080222
The
Government of Singapore Investment Corp (GIC) is actively seeking
investment opportunities in China, especially in infrastructure
and the restructuring of state firms, a senior official of its
private equity arm said on Friday.
Liu Dong, head of
Greater China operations at GIC Special Investments Pte Ltd, said
it was also interested in private equity opportunities in China's
poorer inland provinces.
"China is now a very
important destination for GIC, and we will act as long-term
investors to help Chinese firms to grow," Liu said.
He
was speaking at a ceremony to mark GIC SI's investment of $30
million in Tonsun Foods Co Ltd, a leading peanut processor in
China.
Liu also said GIC, after reaping hefty returns from
a stake in China Ping An Insurance, was very interested in
investing in more Chinese insurance firms. He did not
elaborate.
GIC Special Investments has active
relationships with over 100 international fund managers and has
invested in more than 2,000 companies covering a diversified
range of industries.
It started investing in China in 1995
and has taken stakes in leading companies such as China Mobile
Ltd and Industrial and Commercial Bank of China.
GIC
was set up in 1981 to manage Singapore's foreign reserves.
Reporting
by Eadie Chen; Editing by Alan Wheatley/Rory Channing
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