China CIC: Focused On All Invest Chances, Not Just In Mining
Wang's comment comes a day after CIC said it was taking a stake in Canadian mining company Teck Resources Ltd. (TCK) in a deal valued around US$1.5 billion.
When asked if mining investments would become more important to CIC following the Teck deal, Wang said: "Not entirely. Our investment philosophy is mainly financial investment."
He said, "So for any asset class, industry or region, if there is price undervaluation, there might be investment potential, and if there is overvaluation, there might be a trimming of holdings or something like that.
"We hope to make balanced, diversified, passive investments," Wang said on the sidelines of the Global Think Tank Summit.
He reiterated CIC's investment stance of not seeking control of the companies it invests in.
"We don't take part in management. We make financial investments, not strategic investments (and) not based on geopolitical factors..." he said.
-By Terence Poon, Dow Jones Newswires; 8610 6588-5848; terence.poon@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=%2BfhAlRqrEit8ajqqv9HwJg%3D%3D. You can use this link on the day this article is published and the following day.
Publié le 04 Juillet 2009 Copyright © 2009 Dowjones
Partager sur:
