China United Network Communications Group is a Chinese state-owned telecommunications operator. Started as a wireless paging and GSM mobile operator,it currently provides a range of services including mobile network,long-distance,local calling,data communication,Internet services,and IP telephony. China Unicom is the third-largest wireless carrier in China and the sixth largest mobile provider in the world as of 2022.
CITIC Group Corporation Ltd.,formerly the China International Trust Investment Corporation (CITIC),is a state-owned investment company of the People's Republic of China,established by Rong Yiren in 1979 with the approval of Deng Xiaoping. Its headquarters are in Chaoyang District,Beijing. As of 2019,it is China's biggest state-run conglomerate with one of the largest pools of foreign assets in the world. In 2023,the company was ranked 71st in the Forbes Global 2000.
Qualified Domestic Institutional Investor,also known as QDII,is a scheme relating to the capital market set up to allow financial institutions to invest in offshore markets such as securities and bonds. Similar to QFII,it is a transitional arrangement which provides limited opportunities for domestic investors to access foreign markets at a stage where a country/territory's currency is not traded or floated completely freely and where capital is not able to move completely freely in and out of the country.
The foreign exchange reserves of China are the state of foreign exchange reserves held by the People's Republic of China,comprising cash,bank deposits,bonds,and other financial assets denominated in currencies other than China's national currency. As of October 2024,China's foreign exchange reserves totaled US$3.261 trillion,which is the highest foreign exchange reserves of any country.
A sovereign wealth fund (SWF),or sovereign investment fund is a state-owned investment fund that invests in real and financial assets such as stocks,bonds,real estate,precious metals,or in alternative investments such as private equity funds or hedge funds. Sovereign wealth funds invest globally. Most SWFs are funded by revenues from commodity exports or from foreign exchange reserves held by the central bank.
China's banking sector had CN¥417 trillion in assets at the end of 2023. The "Big Four" state-owned commercial banks are the Bank of China,the China Construction Bank,the Industrial and Commercial Bank of China,and the Agricultural Bank of China,all of which are among the largest banks in the world as of 2018. Other notable big and also the largest banks in the world are China Merchants Bank and Ping An Bank.
The history of banking in China includes the business of dealing with money and credit transactions in China.
China Investment Corporation (CIC) is a sovereign wealth fund that manages part of China's foreign exchange reserves. China's largest sovereign fund,CIC was established in 2007 with about US$200 billion of assets under management,a number that grew to US$1,200 billion in 2021 and US$1,350 billion in 2023.
The Qualified Foreign Institutional Investor program,one of the first efforts to internationalize the RMB,represents China's effort to allow,on a selective basis,global institutional investors to invest in its RMB denominated capital market. Once licensed,foreign investors are permitted to buy RMB-denominated "A shares" in China's mainland Shanghai and Shenzhen stock exchanges. Thus foreign investors benefit from an opportunity to invest onshore,which is otherwise often insulated from the rest of the world,and subject to capital controls governing the movement of assets in-and-out of the country.
China Asset Management Co.,Ltd. is one of China's biggest fund families. The company offers investment managers of National Social Security Fund,corporate annuities,Listed Open-end Fund (LOF),Qualified Domestic Institutional Investor (QDII) funds and Qualified Foreign Institutional Investor (QFII) funds,etc. It is the first exchange-traded fund (ETF) manager in China,and the sole investment manager of Asian Bond Fund China Fund. The company is the first in the industry to initiate the investment philosophy of Research Creates Value.
Since the late-2000s,the People's Republic of China (PRC) has sought to internationalize its official currency,the Renminbi (RMB). RMB internationalization accelerated in 2009 when China established the dim sum bond market and expanded Cross-Border Trade RMB Settlement Pilot Project,which helps establish pools of offshore RMB liquidity. The RMB was the 8th-most-traded currency in the world in 2013 and the 7th-most-traded in early 2014.
CDH Investments is a major Chinese alternative asset management firm based in Beijing,China. It specializes in private equity,venture capital and credit products. CDH invests across a range of sectors and regions. As of March 2015,CDH manages over RMB 100 billion of investor capital across its various investment platforms.
Oceanwide Holdings Co.,Ltd. is a Chinese publicly traded conglomerate. It was a subsidiary of Tohigh Holding,via intermediate holding companies Oceanwide Group and China Oceanwide Holdings Group.
Established in 2011,the Renminbi Qualified Foreign Institutional Investor (RQFII) program is a policy initiative that allows foreign investors who hold the RQFII quota to invest directly in Mainland China’s bond and equity markets. The program represents a continued loosening of China’s capital controls and departure from its predecessor QFII. The RQFII program relaxes existing restrictions on currency settlement,adds permissible asset classes,and expands investor eligibility. The current RQFII relevant jurisdiction applies to financial organizations registered in Hong Kong,Singapore,the United Kingdom,France,Korea,Germany,Australia,Switzerland,Canada,the United States and Luxembourg.
New China Life Insurance Co.,Ltd. also known as New China Insurance (NCI) or Xinhua Baoxian Jituan is a Chinese life insurance company based in Beijing. The Chinese government owns more than half of the shares of the company via sovereign fund Central Huijin,via state-owned enterprise Baosteel Group and a financial service company China Securities Finance.
Bank of Taian Co.,Ltd. trading as Taian Bank is a Chinese urban commercial bank based in Tai'an,Shandong Province.
Taian Taishan Investment Co.,Ltd. is a Chinese sovereign wealth fund of Tai'an,Shandong Province. The sole shareholder of the company was Tai'an Finance Bureau. Despite not listed,the company issued bonds to finance in 2011 and again in 2013 for a total of CN¥2.8 billion.
The Exchange Fund of Hong Kong is the primary investment arm and de facto sovereign wealth fund of the Hong Kong Monetary Authority. First established in 1935 in order to provide backing to the issuance of Hong Kong dollar banknotes,over the years the role of the Fund has continually expanded to now include management of fiscal reserves,foreign currency reserves,real estate investments,and private equity.
Sovereign funds of China are mechanisms through which the Chinese state acts as a market participant with the goals of supporting key domestic economic sectors,advancing strategic interests internationally,and diversifying its foreign exchange reserves.
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