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Shahla
Money Managing Guru
Joined: 13 Nov 2004
Posts: 3324
Cash Points ££ 126163.28
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 Posted: Thu Feb 22, 2007 6:44 pm Post subject: Chinease Communist Party - with over $1 trillion to Invest |
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If you watched much CNBC last week, you might have thought it turned into the “Ben Bernanke channel.” That's because the cameras were fixed on the Federal Reserve Bank Chairman's two-day testimony to Congress.
Given this kind of superstar treatment, it's no wonder most investors consider Bernanke to be one of the most powerful financial people in the world. Don't get me wrong, Bernanke, as well as people like Warren Buffett and Bill Gates, are definitely forces to be reckoned with. But there are also big fish across the pond.
Today, I want to tell you about two other investors that top my “world's most powerful” list. I'll also tell you what they're likely to be buying, and how your own portfolio can benefit …
Guo Shuqing and Lou Jiwei: The Biggest Investors You've Never Heard Of!
These two senior officials of the Chinese Communist Party look like the men who will head up two new offices that will handle China's $1.1 trillion dollars of foreign exchange reserves.
Guo Shuqing is the chairman of China Construction Bank, the third-largest bank in the country, and is likely to lead the new state-owned investment company. Lou Jiwei, Vice-Minister of Finance, will run a separate office called the State Foreign Exchange Investment Company.
Here's the important part: These two new Chinese offices will probably be modeled after the system that's currently being used by Singapore. That country's government owns and operates two investment companies called Temasek Holdings and Government Investment Corporation (GIC).
Temasek Holdings is the Singapore government's investment arm, and is 100% owned by the Ministry of Finance. Established in 1974, it runs a diversified global portfolio worth $129 billion.
Temasek has partial or full ownership of lots of Singapore-based companies such as Singapore Airlines, Singapore Telecommunications, and Neptune Orient Lines. It also has significant stakes in foreign companies like ICICI Bank (India), China COSCO Holdings (China), Bank Danamon (Indonesia), and Quintiles Transnational Corp. (USA).
The company is so rock solid that both Moody's and Standard & Poor's have assigned it their highest credit ratings (Aaa and AAA, respectively). And since its inception 31 years ago, Temasek has delivered a compounded annual total return of 18%!
With results like that, you can understand why China is eager to emulate Singapore's model.
http://www.marketoracle.co.uk/Article370.html |
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