China’s SAFE sets up in New York, targets PE – report
China’s State Administration of Foreign Exchange (SAFE), which overseas $3.2 trillion in foreign currency reserves, is said to set up a New York operation to invest in private equity, real estate and other US assets. The move is seen as part of the country's strategy to reduce its reliance on the US government debt.
According to The Wall Street Journal, the new office is separate from the one has been running for years in the US that focuses on buying government debt and other low-yield assets. The US Federal Reserve...
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