brought on by China's economy reopening from zero-COVID policies, one of the world's largest sovereign wealth funds has scaled back key investments there.reduced its Chinese private-equity and venture-capital investmentsThis turn away from the second-largest economy stems from a number of concerns, including fears about policy decisions by China's leadership.
GIC executives cited growing US-China political tensions, President Xi Jinping's"common prosperity" campaign to reduce inequality, and fears of unexpected moves from Beijing like its crackdown on the tech sector, the FT reported.on the sector, which China's leaders deemed to have become too powerful in the country. And Ant Group's $37 billion IPO that Chinese authorities stopped also hurt GIC., which Beijing helped bring about by trying to stem excessive borrowing.
Oh no. I guess they will just have to call in their loans....