The soon-to-be-established State Forex Investment Company is mulling over investing in 16 of China's central enterprises, sources told China Business News. All these enterprises are potential multinational companies in waiting. However, sources also revealed that the inner circle of the forex investment company was formerly divided on this move, stating it clashed with the company’s main investment direction. Besides, "Such enterprises as China National Petroleum Corporation and China Mobile Limited never suffer from lack of money."

 

Sources also said that the state forex investment company will adopt the policy of "organizing the company while exploring the possibilities". Decision-makers have so far held off asking the company preparation leading group for detailed timetables, since they are focused with finding a forex investment strategy profile which could guarantee a substantial profit return.

 

At present, the preparation leading group has consulted with the State-owned Assets Supervision and Administration Commission of the State Council and selected 16 out of 155 large central enterprises, all of which are ready to invest in foreign countries, to be their investment candidates. All those 16 central enterprises are listed in the global Fortune Top 500 enterprises.

 
For more details, please read the full story in Chinese. ( http://www.china-cbn.com/s/n/000002/20070827/020000053972.shtml)

(China.org.cn August 27 2007)