China not only has a taste for British cars; it likes its companies, too. The Economist reveals that China’s sovereign wealth fund has sprinkled a little of its largesse around a lot of Britain’s biggest companies. The State Administration of Foreign Exchange (SAFE), which manages the country’s foreign reserves, has put £13.8 billion (147 billion yuan/$22.3 billion) of its estimated at $350 billion investment fund into 63 of the companies that make up the FTSE 100 index.
Holdings vary in size from 0.18% in the Royal Bank of Scotland to 1.63% in ARM Holdings, a technology firm. (A full list of the fund’s disclosed holdings can be found here.) Its biggest investment by value is in Royal Dutch Shell; energy and basic materials are the two sectors that attract most of its cash.
Where else in the West is it similarly sprinkling, we wonder?