08 Jul '11, 3pm

IM$avvy Headlines: Temasek #investments in China continue #finance #news

TEMASEK Holdings continues to invest in China, its largest investment destination outside Singapore, despite indications that it has reduced its exposure to that country. Out of 13 investments totalling $13 billion it made in the last financial year, four are in Chinese companies. The most recent was in May this year, when it was reported to have invested US$300 million in Shanghai Pharmaceuticals, China's second-largest drugmaker. Of the $4 billion it poured into three banks via rights issues and recapitalisations, it spent over $3 billion in Bank of China and China Construction Bank. The third, Standard Chartered, would also have raised its exposure to China given that Stanchart is one of the largest foreign banks there with 70 outlets. 'We have faith in the policies of the Chinese government in the long term and we are bullish on China in the long term,' said Nagi Hamiy...

Full article: http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid=...

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