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China permits its banks to invest in UK stocks

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posted on Dec, 17 2007 @ 05:28 PM
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China permits its banks to invest in UK stocks


uk.reuters.com

BEIJING (Reuters) - China has signed an agreement with British authorities opening the door for Chinese banks to invest in UK stocks and mutual funds, the China Banking Regulatory Commission (CBRC) said on Monday.

The memorandum of understanding allows Chinese banks to direct some of their clients' money to Britain through the Qualified Domestic Institutional Investor (QDII) programme.

Chinese banks have a total quota of about $16 billion (8 billion pounds) for investment abroad under QDII, a scheme launched by China last year to encourage capital flows out of the country and
(visit the link for the full news article)




posted on Dec, 17 2007 @ 05:28 PM
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This is quite interesting and I think the reason for it is political.

As the pundit was saying on Bloomberg, why not invest in the US or the Eurozone? Why Britain?

China said it doesn't want to invest in the US due to them being a) political towards China and b) economic slowdown (But so is the UK?)

Strange decision.

Whats more strange is China is not taking the option of using Euro's, but sticking to the Sterling
and is considering adding Sterling to it's foreign reserve


uk.reuters.com
(visit the link for the full news article)



posted on Dec, 17 2007 @ 07:29 PM
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the dollor is weak?
the US has a tendncy to poke its nose in where its not wanted?
China has more to gain from a failed US?

do we sell China any hardware from the UK
that the US would not sell?



posted on Dec, 18 2007 @ 04:41 AM
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Originally posted by bodrul
do we sell China any hardware from the UK
that the US would not sell?


Yeah, weapons

(even though we are not meant to)



posted on Dec, 19 2007 @ 03:18 AM
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Could it be that this happened in part due to initiative from the British side.. that Chinese were just looking for a new currency and Brits made the deal sweet enough to go with pound?




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